Nationwide product changes with effect from 28 August 2008
We are pleased to announce the following changes to our mortgage product range with effect from 28 August 2008:
- Decrease of rates on 2, 5, 10 and 25 year fixed rate products
- New 5 year fixed rate product with £1,499 fee
- Introduction of new 60% LTV tier
- Maximum loan size increased to £1m on selected products
Don't forget, products can be reserved online through our e trading website or via MTE (Mortgage Trading Exchange).
Full details of the changes are listed below.
The maximum loan size of £1m applies to only the 60% LTV tier of products with a £599 fee or no reservation fee. All other products and rates remain the same and for full details please see our lending criteria.
House Purchase
| Product | Effective from | Res. fee - new business | Max 60% LTV | Max 75% LTV | Max 90% LTV |
|---|---|---|---|---|---|
| 2 Year Fixed | 28 August 2008 | £599 | 5.98% | 6.08% | 6.53% |
| 2 Year Fixed | 28 August 2008 | No fee | 6.38% | 6.48% | 6.93% |
| 5 Year Fixed - Opt A | 28 August 2008 | £599 | 5.98% | 6.08% | 6.53% |
| 5 Year Fixed - Opt B | 28 August 2008 | £1,499 | 5.88% | 5.98% | 6.43% |
| 10 Year Fixed | 28 August 2008 | £599 | 6.19% | 6.29% | 6.74% |
| 25 Year Fixed | 28 August 2008 | £599 | 6.33% | 6.43% | 6.88% |
| 2 Year Tracker - Opt A | 28 August 2008 | £599 | 5.88% | 5.98% | 6.43% |
| 2 Year Tracker - Opt B | 28 August 2008 | £1,499 | 5.58% | 5.68% | 6.13% |
| Lifetime Tracker | 28 August 2008 | £599 | 5.88% | 5.98% | 6.43% |
Non-House Purchase (Remortgage/Additional borrowing)
| Product | Effective from | Res. fee - new business | Max 60% LTV | Max 75% LTV | Max 90% LTV |
|---|---|---|---|---|---|
| 2 Year Fixed | 28 August 2008 | £599 | 5.78% | 5.88% | 6.33% |
| 2 Year Fixed | 28 August 2008 | No fee | 6.18% | 6.28% | 6.73% |
| 5 Year Fixed - Opt A | 28 August 2008 | £599 | 5.78% | 5.88% | 6.33% |
| 5 Year Fixed - Opt B | 28 August 2008 | £1,499 | 5.68% | 5.78% | 6.23% |
| 10 Year Fixed | 28 August 2008 | £599 | 6.19% | 6.29% | 6.74% |
| 25 Year Fixed | 28 August 2008 | £599 | 6.33% | 6.43% | 6.88% |
| 2 Year Tracker - Opt A | 28 August 2008 | £599 | 5.88% | 5.98% | 6.43% |
| 2 Year Tracker - Opt B | 28 August 2008 | £1,499 | 5.58% | 5.68% | 6.13% |
| Lifetime Tracker | 28 August 2008 | £599 | 5.88% | 5.98% | 6.43% |
To reserve Fixed or Tracker Products
Please remember, products can be reserved online through our e trading website or via MTE (Mortgage Trading Exchange).
- You can create a new case on our Intermediary e trading website, obtain an 'Accept' DIP and continue to reserve your product, paying any fees by credit/debit card.
- On MTE, you can submit a DIP, obtain an 'Accept' decision, complete and submit a full application, paying all relevant fees by credit/debit card.
Paper Process - a reminder
- Products with no reservation fee will be reserved on receipt of the application form, which must clearly indicate that a 'no fee' product has been chosen.
- Products with a reservation fee will be reserved on receipt of the application form and the reservation fee.
- Products where the reservation fee has been added to loan will be reserved on receipt of the application form, which must clearly indicate that the fee should be added to the loan.
- Please remember that all paper applications should be sent to your usual New Business Service Centre.
