Nationwide Building Society has reduced the rate of selected fixed rate mortgages. One of the mortgages to receive the biggest decrease of 0.65% was the 10-year deal, which has earned an 'excellent' rating as a result.
This mortgage now has a rate of 3.79% fixed for 10 years. It is available at a loan-to-value (LTV) of 80% and has absolutely no product fees, making this the lowest fee-free rate available at this LTV.
This mortgage is open to first-time buyers, homemovers and remortgagors with a 20% deposit. Those looking to remortgage can profit from an extensive incentive package of free valuation and either free legal fees or a £250 rebate upon completion.
Flexible repayment options are also offered with this mortgage, with both overpayments and underpayments permitted provided certain conditions are met.
The rate reduction has boosted this mortgage's competitiveness in its sector, something that is sure to be marked by borrowers. Those looking to remortgage their property stand to gain a particularly competitive deal, thanks to an enticing and extensive incentive package, which will help to keep upfront costs down.
Moneyfacts rating: Excellent
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