New mortgage deals from First Direct and Nationwide

| March 2, 2009 | 0 Comments
New mortgage deals from First Direct and Nationwide

First Direct has launched a new two-year fixed-rate offset mortgage with a rate of 2.99%.

The loan reverts to the bank’s standard variable rate (currently 3.69%) at the end of the fixed period and the deal is available to new and existing customers either for house purchases or re-mortgages.

The maximum loan-to-value ratio (LTV) is 75% and a booking fee of £599 and arrangement fee of £299 apply.

Meanwhile, Nationwide Building Society has introduced the following new home loans from 1st March:

A two-year tracker with a rate that starts at 3.63% for 60% LTV and with a reservation fee of £995.

In addition, a three-year tracker from 3.58% (at 60% LTV), the reservation fee is £995 or a mere £299 for first time buyers.

Finally, a five-year fixed-rate deal from 4.98% (at 60% LTV) and a £995 reservation fee.

The lender has also reduced its Base Mortgage Rate by 0.50% to 3.00% from 1st March in response to last months cut in the Bank of England’s base rate.

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