Nationwide Three-Year Tracker mortgage rates reduced

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Nationwide Three-Year Tracker mortgage rates reduced

Rate reductions of up to 0.15 per cent have been applied to the Nationwide Three-Year Tracker mortgage as well as some of its fixed-rate products.

The three-year tracker will now offer a rate from 4.69 per cent, compared to Northern Rock's rate of 4.89 per cent and Halifax's offer of 5.09 per cent.

Nationwide also claims that as well as having lower rates than its competitors it also charges lower fees.

Comparing itself to Northern Rock, the lender reports that its reservation fee is almost £300 lower and that customers who take out their mortgage with Nationwide could save more then £2,000 over the course of a five-year fixed-rate deal.

Stuart Bernau of Nationwide claimed that: "Anyone looking for a really competitive deal can come to Nationwide and expect to find a really competitive rate, lower fees and charges and an organisation that puts its member first."

The Nationwide Three-Year Tracker mortgage charges a reservation fee of £399 and has a valuation charge of £245.

Announced changes in all of the deals will take effect as of Friday March 3rd.

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