Nationwide Building Society has ensured that its two-year variable tracker mortgage stays ahead of its class by trimming its rate by 0.05%.
This tracker mortgage now has a variable rate of 1.64% for two years (base rate +1.14%), the lowest rate currently available for its terms. It is offered at a loan-to-value (LTV) of 85% and has a fee of £999.
All borrowers with a deposit of 15% are welcome to apply for this deal. All applicants can receive free valuation, while first-time buyers can benefit from a £500 rebate upon completion. Additional incentives of either free legal fees or a £250 rebate are also available to remortgagors.
Those looking for some additional repayment flexibility will be pleased to see that there is the option to make both overpayments and underpayments, provided certain conditions are met.
This deal was already highly competitive, but this latest update has put it well ahead of its peers. Borrowers with the right deposit will certainly look upon it favourably, particularly as it also comes with an enticing and inclusive incentive package.
Moneyfacts rating: Excellent
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