Nationwide product changes with effect from 18 July 2008
We are pleased to announce the following changes to our mortgage product range with effect from 18 July 2008:
- Decrease of rates on 2 year and 5 year fixed rate products
- Decrease of rates on 2 year tracker, £1,499 fee product
- Decrease of rates on lifetime tracker products and introduction of £599 reservation fee
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.
All other products and rates remain the same and for full details please see our lending criteria.
Launch and Reprice of Fixed Rate and Tracker Product Range
House Purchase
| Product | Effective from | Res. fee - new business | Max 75% LTV | Max 90% LTV |
|---|---|---|---|---|
| 2 Year Fixed | 18 July 2008 | £599 | 6.18% | 6.58% |
| 2 Year Fixed | 18 July 2008 | No fee | 6.58% | 6.98% |
| 5 Year Fixed | 18 July 2008 | £599 | 6.18% | 6.58% |
| 2 Year Tracker Option B | 18 July 2008 | £1,499 | 5.68% | 6.08% |
| Lifetime Tracker | 18 July 2008 | £599 | 5.98% | 6.38% |
Non-House Purchase (Remortgage/Additional borrowing)
| Product | Effective from | Res. fee - new business | Max 75% LTV | Max 90% LTV |
|---|---|---|---|---|
| 2 Year Fixed | 18 July 2008 | £599 | 6.18% | 6.58% |
| 2 Year Fixed | 18 July 2008 | No fee | 6.58% | 6.98% |
| 5 Year Fixed | 18 July 2008 | £599 | 6.18% | 6.58% |
| 2 Year Tracker Option B | 18 July 2008 | £1,499 | 5.68% | 6.08% |
| Lifetime Tracker | 18 July 2008 | £599 | 5.98% | 6.38% |
To reserve Fixed and 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.
Important Exclusions - a reminder
Some Nationwide mortgage products are only available to customers directly via branches, Nationwide Direct or at www.nationwide.co.uk.
These products are clearly labelled 'Direct' on our Intermediary e trading website. Any application received from an intermediary for one of these products will be returned and the application will be cancelled.
