Nationwide announces new 95% LTV mortgages

Nationwide announces new 95% LTV mortgages


Nationwide is set to expand its mortgage range for existing customers with the introduction of two and three year tracker and fixed rate deals, that only need a 5% deposit.

The new products will be available from Wednesday, June the 10th, and feature a two-year tracker for customers borrowing up to £150,000 who pay a £599 reservation fee of 2.99%, with the rate capped at 3.99%, should the base rate rise.

The group’s two-year fixed rate mortgages for those borrowing up to £150,000 start at 2.79%, but have a substantially higher fee of £2,499.

The new deals will replace Nationwide’s present two fixed rate deals for existing customers needing to borrow 95% of their home’s value – these range from 6.58% to 7.28%.

Andy McQueen, mortgage director at Nationwide, commented: “We are now offering a range of additional mortgage options for existing customers who are coming to the end of their deal. As well as being able to choose from a wider product range, the new capped trackers will give customers the added assurance that their payments will not go beyond a certain level should interest rates rise during their deal term.”


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