Nationwide Building Society mortgage holders now have a new payment option. The building society announced the new options on its fixed and tracker mortgages yesterday.
Borrowers now have the option to pay the reservation fee upfront, or alternatively they can choose to pay a slightly higher rate over the deal period, negating the need to pay a reservation fee.
The new rates are lower than most other remortgage deals available in the market, Nationwide said.
Customers who choose this new payment option have the same range of mortgages to choose from. The new rates for the 'no reservation fee' option will be from just 20 basis points higher than Nationwide's existing mortgage prices.
This new option was launched because customers are sometimes unable or unwilling to pay a reservation fee, Nationwide executive director Stuart Bernau said.
"That is why we are introducing the new 'no reservation fee' option. This complements our existing mortgage rates and offers customers even more choice," he said.
He added that this choice enables borrowers to manage their mortgage in the way that suits them best.
Nationwide offers more mortgage options
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Nationwide offers more mortgage options
Wed, 11 May 2005
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