Nationwide's two-year fixed-mortgage reduction announced

Monday 27 March 2006

Nationwide Building Society has announced details of a reduction to one of its two-year fixed-rate products available from tomorrow.

Currently charging an interest rate of 4.44 per cent, Nationwide's new two-year fixed-rate product will be reduced by 0.05 per cent to 4.39 per cent for those borrowing up to 90 per cent loan to value.

A reservation fee for the product is 599 and can be paid upfront or added to the loan.

Nationwide will withdraw the current product from the end of business today.

All Nationwide's fixed-rate mortgages offer borrowers the ability to overpay or underpay during the deal period and are available to all borrowers.

Nationwide is the UK's fourth largest mortgage lender and seventh largest retail banking, saving and lending organisation by asset size.

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Nationwide's two-year fixed-mortgage reduction announced