Effective from 16 May the Nationwide Building Society will have reduced interest rates on both two year and five year fixed rate mortgages.
The two year fixed rate mortgage will have a new rate of 5.95 percent with just a GBP599 arrangement fee. There is also a fee-free Nationwide Building Society two year foxed rate mortgage that will be available at 6.35 percent. These rates are for people moving house but there is also a remortgage offer, with rates of 6.15 and 6.55 percent respectively for the same mortgage offers as above.
The longer five year fixed rate mortgage can be had at 5.85 percent for house purchasers, again with a GBP599 fee, while the remortgage option is 5.95 percent. Customers coming to the Nationwide Building Society to change mortgage from a different company are also entitled to a special offer on a five year fixed rate mortgage, with no fee, at 5.95 percent.