Nationwide cuts rates for its fixed-rate mortgages
www.moneynews.co.uk > Mortgages > Nationwide cuts rates for its fixed-rate mortgages
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Money News |
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Nationwide cuts rates for its fixed-rate mortgages
Thu 21st Jul 2011
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Rates will be lowered by up to 0.3 per cent, although the changes only affect new applications. This means the company will offer a best buy three-year fixed rate at 3.39 per cent with a loan to value rate of up to 70 per cent.
Nationwide's head of mortgages Martyn Dyson said: "If you want certainty about what your mortgage payments will be over the next two or three years, then our latest rate cuts for two and three-year fixed rates will be music to your ears."
This comes as the Council for Mortgage Lenders (CML) announced yesterday that overall lending for home buying loans in June this year, while up compared to May, was still lower than the same period in 2010.
According to CML chief economist Bob Pannell, the period of low economic growth currently experienced by the UK "weighs negatively on purchase decisions relating to home ownership".
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Related News : Nationwide |
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