Launching on Tuesday 25 September, the five-year fixed rate is available exclusively to existing Nationwide borrowers switching to another of the lender’s products.
The product is available at a rate of 5.98% with no reservation fee - saving £599 compared to the usual fee on this product.
Since then the average two-year fixed rate has risen by over 1.80% from 4.56% to around 6.41%, the new five-year fixed rate mortgage is a potentially attractive deal for Nationwide borrowers whose current deal is coming to an end.
All Nationwide fixed rate mortgages offer overpayment and underpayment facilities as well as payment holidays. They are also fully portable.
Nationwide’s decision to reward loyalty to existing mortgage customers with this exclusive offer follows a similar mortgage deal, launched earlier in the year, which proved to be very popular with members. At the same time, Nationwide will withdraw the £100 reservation fee discount offer on all products for existing Nationwide borrowers.
