Nationwide improves mortgage products for intermediaries

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Nationwide improves mortgage products for intermediaries

Nationwide subsidiary The Mortgage Works (TMW) has improved rates, decreased fees and increased allowances across a range of its products for intermediaries.

Highlights in today's (August 16th) statement include rate improvements by up to 1.4 per cent and changes to its two-year fixed rate for house purchases and remortgages at 2.24 per cent, with a 1.5 per cent arrangement fee and 70 per cent LTV rate.

Also announced are a new range of two-year fixed-rate mortgage products for house purchases with a free standard evaluation and £250 cashback, as well as selected arrangement fees reduced by 0.5 per cent, all representing the "commitment to delivering intermediaries and their customers even greater value", according to TMW.

David Hollingworth, head of communications at London and Country Mortgages, said: "Customers are always pleased to see interest rates cut and the more competitive mortgage market is great news for borrowers."

Last week, Nationwide reduced rates by 0.25 per cent for new customers that come to them directly, affecting all of the lender's two-year fixed-rate mortgages.

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