Tracker mortgage is ‘excellent’ after rate cut | Product News - Moneyfacts

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Tracker mortgage is ‘excellent’ after rate cut

Tracker mortgage is ‘excellent’ after rate cut

Category: Mortgages
Date: 02/06/2016

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 It is now over 6 months old so the content may be out of date.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 rates on selected mortgages by up to 0.25%. One of the deals to benefit from a rate cut was its two-year variable tracker mortgage, which has earned an 'excellent' rating as a result.

The basics…

This mortgage now has a competitive variable rate of 2.24% (base rate + 1.74% for 24 months). It is available at a loan-to-value (LTV) of 90% and has a fee of £999.

The finer details…

Homebuyers with a modest deposit of 10% are welcome to apply for this deal, which is accompanied by an incentive package of free valuation for all borrowers and a £500 rebate for first-time buyers. Borrowers are also able to take advantage of flexible repayment options: both overpayments and underpayments are permitted, provided certain conditions are met.

Why we like it…

This tracker deal boasts a competitive rate, which will appeal to borrowers in possession of only a small deposit. The fact that it also offers an enticing incentive package, particularly for first-time buyers, further sweetens the deal and ensures that it fully deserves its 'excellent' rating.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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