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Nationwide launches new tracker mortgage

Wed, 28 Mar 2007

Homeowners looking to find a remortgage deal may be interested to know that Nationwide Building Society has launched a new two-year tracker mortgage range.

Available from today, the financial services provider's mortgages come with lending rates starting from 4.49 per cent, along with a reservation fee of £1,999.

However, existing Nationwide mortgage holders qualify for a £200 loyalty discount on this fee.

Another feature that may appeal to people looking to find a remortgage deal is that they are entitled to switch to a fixed-rate mortgage at any time during the lifetime of the deal without being obliged to pay early repayment charges.

"Our new tracker product has been designed to suit people moving home who prefer to opt for a shorter-term deal, with a lower rate and higher fee," commented Stuart Bernau, executive director of the financial services provider.

"It would suit borrowers with larger mortgages."

In related news, this month saw Nationwide unveil details of their new 25-year fixed-rate mortgages .

The long-term mortgages feature lending rates of 5.49 per cent, on top of a £599 arrangement fee.

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