Nationwide tracker mortgages 'launched'
www.moneynews.co.uk > Nationwide > Nationwide tracker mortgages 'launched'
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Money News |
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Nationwide tracker mortgages 'launched'
Wed 28th Mar 2007
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Rather than providing people with the certainty of set repayments each month, tracker mortgages have the benefit of closely following the Bank of England base rate, meaning customers could benefit from any fluctuations.
The Nationwide mortgage, possessing a reservation fee of £1,999, enables customers to 'switch and fix' on to a fixed-rate mortgage at any time, a useful feature for those borrowers who want to protect themselves against interest rate rises.
Existing Nationwide customers will also receive an exclusive £200 loyalty discount on the initial reservation fee.
Stuart Bernau, Nationwide’s executive director, said: "Our new tracker product has been designed to suit people moving home who prefer to opt for a shorter term deal, with a lower rate and higher fee.
"It would suit borrowers with larger mortgages and offers great value compared to similar products in the market," he added.
Related News : Nationwide |
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