Savings rates will be increased by up to 0.25 per cent. Full details of the new savings rates will be announced in due course. The Base Mortgage Rate will be increased by 0.25 per cent leaving it around 0.75 per cent lower than the standard variable rates of most other major high street lenders. This follows last week’s decision by the Bank of England’s Monetary Policy Committee to increase the Base Rate by 0.25 per cent.
A range of flexible features are available on all new Nationwide mortgages, offering the borrower the ability to overpay, underpay or take a payment holiday. Nationwide calculates interest on a daily basis on all products and does not charge a Mortgage Indemnity Guarantee (MIG) or fees for high percentage borrowing.
Nationwide pays savers 0.40% more than the market average and over time Nationwide has consistently paid better savings rates than its main high street competitors. The Society offers long term good value on a complete range of savings accounts.
