Nationwide increases rates

By Ariane Buteux

30 Nov 2007

Current products will be withdrawn on Monday 3 December, with the new range available from Tuesday 4 Decembe.

The changes to the current products are as follows:

House purchase

Two-year tracker (with £599 fee) available from: 5.83 per cent (previously 5.68 per cent)
Two-year tracker (no fee) available from: 6.23 per cent (previously 6.08 per cent)
Two-year tracker (with £1,499 fee) available from: 5.73 per cent (previously 5.58 per cent)

Remortgage and Additional Borrowing

Two-year tracker (with £599 fee) available from: 5.98 per cent (previously 5.83 per cent)
Two-year tracker (no fee) available from: 6.38 per cent (previously 6.23 per cent)
Two-year tracker (with £1,499 fee) available from: 5.83 per cent (previously 5.68 per cent)

Matthew Carter, divisional director for mortgages at Nationwide, said: “Nationwide’s tracker products continue to offer borrowers great value. However, the costs of funding have increased and we have found it necessary to follow other lenders who have recently increased their rates.

“All our tracker mortgages offer the facility to switch and fix from a tracker mortgage to a fixed rate deal at any time, without incurring early repayment charges, offering borrowers extra flexibility should their personal circumstances change.”