Nationwide Building Society has cut the rate on its two-year variable tracker mortgage by 0.45%, making it the lowest rate for its sector.
This tracker mortgage now has a variable rate of 1.44% at a loan-to-value (LTV) of 60-75%. A reduced fee of £499 is payable for first-time buyers, while a fee of £999 is payable for all other borrowers.
This mortgage is available to first-time buyers, second-time buyers and remortgagors. While first-time buyers can benefit from a lower fee, remortgagors can profit from an incentive package of free valuation and either a £250 rebate upon completion or free legal fees.
Repayments can be flexible, with both overpayments and underpayments permitted, subject to approval.
This mortgage now offers the lowest rate for its sector, which is sure to catch the eye of borrowers. The reduced fee is a definite bonus for first-time buyers, while the incentive package for remortgagors is also very generous.
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