Nationwide to increase its base rate
www.moneynews.co.uk > Mortgages > Nationwide to increase its base rate
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Nationwide to increase its base rate
Thu 16th Nov 2006
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From December 1st 2006, the building society will increase its base rate by 0.25 per cent from the present 6.24 per cent rate to 6.49 per cent.
Should other mortgage lenders also increase their variable rates to reflect the increase in the base rate, then housefund.co.uk says customers could make a saving of £9,644 from a 25-year mortgage worth £100,000 if they go with Nationwide.
Nationwide has recently released details of its pre-tax profits for this year so far and they show a record £336.4 million up to September.
Allied to this, house prices showed their fastest rise in over four years during October, according to the Royal Institution of Chartered Surveyors (Rics), showing that the base rate increase was not putting off house-buyers as yet.
Rics says property prices in London are steadily rising as City bonuses continue to drive up prices but where the capital leads, the rest of the UK follows with increases seen in many regions.
Related News : Mortgages |
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Related News : Nationwide |
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