2-yr fixed mortgage gets a rate cut | Product News - Moneyfacts

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2-yr fixed mortgage gets a rate cut

2-yr fixed mortgage gets a rate cut

Category: Mortgages
Date: 06/01/2016

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 It is now over 6 months old so the content may be out of date.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 Building Society has reduced the rate on its two-year fixed mortgage by a significant 0.35%, catapulting it back into the Moneyfacts charts.

The basics…

This mortgage now has a fixed rate of 3.89%, enabling it to take a place among the top deals of its sector. It is available at a loan-to-value (LTV) of 95% and has a fee of £999.

The finer details…

This mortgage is available to house purchase customers who are in possession of a modest 5% deposit. All borrowers can take advantage of an enticing incentive package of free valuation, while first-time buyers can also profit from a generous £500 rebate upon completion.

In addition, this deal offers a welcome degree of flexibility in terms of repayments: both overpayments and underpayments are permitted, provided certain conditions are met.

Why we like it…

The rate reduction has enabled this deal to re-establish itself in the charts, a move that is sure to be noticed by borrowers with a modest deposit. The competitive rate is bolstered by the flexible repayment options and the generous incentive package, which should especially appeal to first-time buyers.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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