|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Thursday 21st of January 2010
March 17, 2009    

Nationwide increases tracker rates

Bookmark and Share

by Gill Montia
Nationwide increases tracker rates

Nationwide Building Society is increasing rates on some of its mortgage deals by up to 0.3%.

From 18th March, remortgagers with a 40% deposit will pay interest at 3.93% for a two-year tracker, up from 3.63% previously.

Homeowners with only 25% of equity in their properties will be charged at 5.08% for a similar deal, while existing Nationwide customers who need to borrow 95% of the value of their homes will pay at 5.63%.

The lender’s three-year tracker mortgage rate for those with a 40% deposit increases by 0.2% to 3.58%.

At the same time, a three-year fixed-rate deal for people remortgaging increases by 0.2% to 4.18%.

However, it should be noted that the March cut in the Bank of England’s base rate means that all Nationwide tracker rates will fall by 0.5% from 1st April.

Nationwide says the changes reflect increased funding costs and the need to reprice to remain in line with its competitors.

The building society’s is also introducing a new mortgage tier for people borrowing between 75% and 85% of their property’s value;
those borrowing between 75% and 80% will in future benefit from a slightly lower rate.

Discuss this in the Finance Markets forums

Story link: Nationwide increases tracker rates




Related financial stories to: Nationwide increases tracker rates:
Previous: « Barclays gains on positive statement
Next: New home owners suffer from paraskavedekatriaphobia »

Visited 886 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , , ,