Nationwide launches lowest ever ten-year fixed-rate mortgage
Nationwide Building Society has intensified the mortgage price war by launching the lowest ever 10-year fixed rate.
The mortgage is priced at 2.94% and it comes with a £999 arrangement fee, it allows borrowers with at least a 40% deposit or the equivalent amount of equity in their property to qualify.
Anthony Emmerson a director of Trinity Financial says: “The lenders are fighting it out top the best buy tables and rates are still getting cheaper. Nationwide’s mortgage undercuts Barclays previous market leading ten-year fix by 0.06%.
“Many borrowers are not keen to fix in for longer than five years although a ten-year fix below 3% is certainly going to temp some of our clients.”
After the fixed rate period the mortgage will revert to the lenders standard variable rate, currently 3.99%. The APR is 3.6%.
If you would like help to secure a fixed rate mortgage, call Trinity on 020 7016 0790.
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