Nationwide lowers interest on secured loans - Loans - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Nationwide lowers interest on secured loans

Nationwide lowers interest on secured loans

Category: Loans

Updated: 31/10/2008
First Published: 20/10/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Nationwide has announced that holders of its secured loans that track the Bank of England's base rate will see reductions next month.

From November 1st, tracker mortgages with the lender will drop by 0.5 per cent.

In addition, Nationwide's own base rate will be lowered by 0.3 per cent, from 6.49 per cent to 6.19 per cent, something it believes makes it the best value option.

"Nationwide's standard mortgage rate will become the lowest on the high street. We continue to offer help for first-time buyers and existing customers by giving them access to competitive low fee products," said divisional director for mortgages Matthew Carter.

The move follows the Bank of England's decision to lower its base rate by 0.5 per cent last week.

Moneyfacts.co.uk analyst Michelle Slade noted recently that Abbey, NatWest and Royal Bank of Scotland had offset the cut by raising tracker mortgage rates.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Blue Monday hits nation’s finances

Today has been dubbed Blue Monday – the most depressing day of the year – and considering how many people could be battling with their finances this month, it’s little wonder.

Calls to make the loans market clearer

At first glance the personal loans market may seem simple enough, but get into the nitty gritty and it can be anything but. As a result, some are calling for action to make the market clearer and fairer for all.

Get the cheapest ever personal loan!

Have you woken up with a financial hangover after the festivities? Perhaps you’ve got big plans for the year ahead, or maybe you need a new car? Well, whatever your reasons for needing a loan, you can now snap one up for the cheapest ever rate!
 
Close