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Mortgage rate shake-up at Nationwide
Thu, 03 Nov 2005
Nationwide Building Society has made a number of changes to its mortgage range.

Mortgage rates on the mortgage lender's fixed rate and tracker rate mortgage ranges have been adapted.

On the fixed rate mortgages , the mortgage rates start from 4.59 per cent for the two-year product, going up to 4.79 per cent for the three-year and five-year mortgages and 4.99 per cent if the mortgage is taken over a decade.

Tracker rate mortgages now offer a mortgage rate that currently sits at 4.54 per cent for the two-year mortgage . If the mortgage is taken over three years, the mortgage rate will be set at 0.24 per cent above the Bank of England base rate.

The maximum loan to value for these mortgages is 95 per cent.

Reservation fees for the mortgages could be paid upfront or added to the loan . Mortgage borrowers who do not want to pay a reservation fee will be charged a higher mortgage rate .

The mortgages offer further flexibility in that overpayments, underpayments and payment holidays are allowed throughout the mortgage life.

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