Nationwide launches 90% LTV mortgage deal
Nationwide launches 90% LTV mortgage deal

Nationwide launches 90% LTV mortgage deal

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By Charlotte Beugge

First-time buyers and home movers with only a little equity in their homes can get a mortgage from Britain's largest building society.

Nationwide has launched a two-year fixed-rate deal at 5.29% with a £900 fee or 5.69% with no fee, with borrowers needing to put up a deposit of 10%.

Martyn Dyson, head of mortgages at Nationwide, says: "We are continuing our support for the housing market by extending our range of 90% LTV mortgages to now include two-year fixed-rate products.

"It means we offer a comprehensive fixed-rate range at 90% LTV including two, three and five-year fixed-rate deals, offering some of the best low deposit deals currently available."

However, buyers who can only manage a 10% deposit - which is still a large amount to save - can get cheaper deals than this. Leeds Building Society has a three-year fixed-rate at 3.99% with a £995 fee on a 90% LTV. And HSBC has a five-year fixed-rate deal of 4.89% with no fee.

Nationwide is also offering a five-year fixed rate of 3.59% at 70% LTV with fees of £999 or 3.79% with just a £99 booking fee. First Direct has a five-year fixed rate for a 65% LTV at 3.99% but with a large fee of £1,999.

 
 
Lender Initial Rate Duration Standard Rate Overall Cost For Comparison Max Loan To Value Fee
1.99%2 years3.94%3.7% APRNA£1499
2.45%2 years5.69%5.4% APR75%£999
2.49%2 years4.99%4.7% APR70%£499
2.59%3 Years4.99%4.4% APRNA£598
2.65%2 Years5.69%5.5% APR75%£999
2.69%2 years4.99%5% APR75%£795
2.75%2 years5.49%5.1% APR80%£95
2.75%To Mar 20145.95%5.6% APR70%£374
2.79%To Mar 20144.99%4.8% APR75%Nil
4.49%3 years5.44%5.4% APR90%Nil

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