Nationwide are in a position to raise their interest rates

20/04/07

Nationwide Building Society is in a position to raise the interest rates on its tracker rate and fixed rate mortgages.

The interest rate will also decrease via its two-year tracker product for homebuyers who decide to switch mortgage or people who choose to remortgage. Nationwide Building Society will introduce these new interest rates from Tuesday April 24th 2007.

On Monday the 5 year fixed rate member specials will be deducted from sale at closing of business.
Due to money market rates increasing it has been forced into the increases of certain rates. Many lenders today have pulled fixed rate products not long ago on uncertainty of initial rate rise.

Nationwide adds: “Unlike many other lenders, Nationwide does not impose a higher lending charge for customers who wish to borrow more than 90 per cent LTV. All of Nationwide’s mortgages offer borrowers the additional flexibility to overpay or underpay during the deal period."

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