Nationwide and Newcastle Intermediaries launch new fixed rate deals, with Nationwide offering its lowest rates yet, while Leeds Building Society ups its maximum lending age.
Nationwide has slashed its five and ten-year residential fixed rates by up to 0.20%.
For the first time it’s five-year fixed rate range now offers rates at 1.99%(3.18% APRC) with a £999 fee, or 2.19% (3.18% APRC) with no fee.
The lender’s three and ten-year fixed rate products have also been reduced and its three-year fixed rate deal now starts at 1.69%(3.36% APRC) with a £999 fee or 1.99%(3.43% APRC) with £999 arrangement fee.
Ten-year fixed rate mortgages are also available from Nationwide, starting at 2.69%(3.16% APRC) with a £999 fee, or 2.79%(3.23% APRC) with no fee for a 60% loan-to-value (LTV) deal, which the lender says is its lowest ever rate.
Lastly, Nationwide has released new 95% LTV tracker mortgages at introductory rates of 3.59%(3.84% APRC) with a £999 fee or 3.99%(3.86% APRC) with no arrangement fee and no early repayment charges.
To complement these new deals Nationwide is also offering the following benefits: All standard mortgage valuations are now fee-free, and first time buyers receive a £500 cashback to help with the cost of moving.
Nationwide Flex main current account holders who are taking out a Nationwide mortgage are also eligible for an additional £250 cashback and existing Nationwide mortgage customers receive a £250 cashback when they take a new mortgage deal. This is in addition to continuing to benefit from a 0.10% discount on new customer rates.
Newcastle Intermediaries is another lender to launch new fixed rate mortgage deals this autumn.
Newcastle’s new five-year fixed rate of 3.30%(4.98% APRC) for a 90% LTV mortgage is aimed at first-time buyers. Again, it has no reservation or completion fees and has a free standard valuation.
Older buyers are being offered extra assistance from Leeds Building Society, as the lender ups its maximum lending age.
Leeds will now lend to borrowers up to the age of 80, at the end of the mortgage term, which is an increase of five years from its previous criteria.
The revision applies to residential mortgages only and follows moves from Halifax and Nationwide, which upped their maximum lending age to 80 and 85 respectively.
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6th September 2016