The Society is also extending the choice of mortgage products available to existing borrowers who are moving home and require additional borrowing at higher loan to values (LTVs), with these changes will be effective from today.
Matthew Carter, divisional director of mortgages at Nationwide, said: "We are pleased to be in a position to re-enter the Tracker mortgage market with a new two year product.
"Nationwide borrowers already benefit from a range of flexible features including the ability to move their existing mortgage without additional charge. As part of our ongoing commitment to existing borrowers during these difficult times, we have introduced a new, higher, LTV tier. The new tier, which is available to Nationwide customers who are moving home and require additional borrowing, will ensure that they continue to benefit from a range of fixed and tracker mortgage options."
The details:
75% on Tracker rate mortgage deals for remortgagors, switchers and those taking a further advance;
75% on Tracker rate mortgage deals for house purchase customers and all Fixed rate mortgage deals (95% for existing borrowers moving home);
75% on new build flats and 90% on new build houses.
Maximum borrowing of £500,000. Loans between £500,001 and £1 million available on fixed rate mortgage deals up to 60% LTV for new customers and 85% LTV for existing customers.
