Nationwide mortgage rates 'raised for some products'

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Nationwide mortgage rates 'raised for some products'

Tue 22nd Jan 2008

Certain mortgages provided by Nationwide will have higher rates from January 23rd, the building society has announced.

For example, a two-year tracker with a £599 fee which used to have a 5.58 per cent rate is now on offer at a rate of 5.68 per cent.

Meanwhile, a lifetime tracker with no fee will be provided at a 5.89 per cent rate, having previously had a 5.74 per cent rate.

However, Nationwide's fixed-rate mortgage range retains the same rates.

Matthew Carter, divisional director for mortgages at Nationwide, said that "a wide range of mortgages" is on offer to customers who want different types of products.

"Nationwide's products remain very competitive for borrowers who are moving home, changing deal or changing lenders and customers have the option to overpay or underpay during the deal period," he added.

Nationwide's house price index revealed earlier this month that the rate of capital growth decreased across the UK during 2007.

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