| |
Major Site Upgrade in Progress |
 |
|
 |
|
Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
|
|
|
 |
|
 |
|
 Posted: Tue Jul 17, 2007 2:03 am Post subject: Nationwide Launches New UK 25 Year Fixed Rate Mortgage |
 |
|
|
 |
|
 |
|
|
|
|
Jul 13, 2007 - 02:08 PM
By: Nationwide
Guaranteed stability of payments for 25 years, with full flexibility after 10 years
Nationwide Building Society today announced the reintroduction of its innovative 25 year fixed rate mortgage at a rate of 6.39%. The new 25 year fixed rate will be available from Tuesday 17 July.
The 25 year fixed rate was first launched by Nationwide in March 2007 and sold out in five weeks. The product not only offers good value and the security of fixed payments but also provides flexibility - there are no early repayment charges after the first 10 years and it is fully portable - making it an attractive option for first time buyers or borrowers moving home who still have a term of at least 25 years.
Features of the 25 year fixed rate mortgage include:
Rate from 6.39%
No Early Repayment Charges after the first 10 years (3% during first 10 years)
Flexibility: the ability to overpay (by up to £500 per month), underpay and take payment holidays
Portability: as with all Nationwide mortgages, borrowers can take it with them when they move home and top it up with an additional loan if they wish to move to a larger property
Saving on fees: with only one arrangement fee, borrowers could save hundreds and in some cases, thousands of pounds on fees, over the term of their mortgage
Security: protect against potential interest rate rises with fixed payments
Simplicity: no need to choose and arrange a new deal every few years
Reservation fee of £599 (£100 discount for existing borrowers)
Available to both home movers and remortgagors
No higher lending charge on any Nationwide mortgages
Stuart Bernau, Nationwide’s executive director, said: “The Chancellor has recently expressed concern that most lenders do not offer long-term fixed rates. Our experience is that the 25-year fixed rate has a place in the market and offers long-term stability and flexibility for borrowers who want to protect against fluctuations in interest rates.
“People who want a mortgage for life don’t necessarily want a house for life which is why our mortgage is fully portable, allowing borrowers to take it with them as they move up the property ladder. The relaunch of this product follows a very successful uptake earlier in the year and will allow even more borrowers to benefit from the advantages it offers.”
Further information:
Zoe Stevens, press officer, telephone: 01793 655423
Steve Blore, senior manager, telephone: 07711 110210
Notes:
25 YEAR FIXED RATE MORTGAGE AVAILABLE FROM 17 JULY 2007
HOUSE PURCHASE (New and existing Nationwide mortgage borrowers)
Product With reservation fee No reservation fee New Nationwide mortgage borrower reservation fee Existing Nationwide mortgage borrower reservation fee*
25 year fixed rate 90% LTV 6.39% N/A £599 £499
95% LTV 6.79% N/A £599 £499
REMORTGAGORS/ SWITCHERS/ FURTHER ADVANCES (New and existing Nationwide mortgage borrowers)
Product With reservation fee No reservation fee New Nationwide mortgage borrower reservation fee Existing Nationwide mortgage borrower reservation fee*
25 year fixed rate 90% LTV 6.49% N/A £599 £499
95% LTV 6.89% N/A £599 £499
*Loyalty discount of £100 for existing Nationwide mortgage customers
Must have at least 25 years mortgage term remaining
Mortgages:
Full details of Nationwide's mortgage product range are available in all branches, online at www.nationwide.co.uk/mortgage or by calling 0800 30 20 10.
Nationwide makes all of its new mortgage products available to new and existing borrowers in the same circumstances, subject to their existing terms and conditions. |
|
|
|
|
|
|
 |
Online Finance Tools & Calculators |
 |
| Credit Score Calculator |
Easy to use online Credit Scoring tool - Calculate your credit score now online for FREE ! using the Moneyforums.co.uk credit scoring tool. Also TEN Tips on improving and mainting a good credit rating ! |
|
| Quick Health Calculator |
Easy to use quick health calculator to help you get started on the path to fitness. Calculates your body mass index (BMI). |
|
| "When will I die ?" Calculator |
Calculate when will you die based on your current life style and then more importantly what you can do about extending your lifespan ! |
|
| Mortgage Calculator |
Easy to use online Mortgage calculator tool - Calculate how long it will take to pay off your mortgage and what your monthly repayments will be as well as interest charged per month per each year. |
|
| Savings Calculator |
Use the flexible savings calculator to estimate the amount of interest you would earn given a level of monthly savings, with many optional settings. |
|
| UK Tax Calculator |
Check your tax and NI liability using this easy to use online tool. Outputs, Tax, Ni, Net pay and gross pay on an annual, monthly and weekly basis, also estimates your tax burden and the number of days a year you work for the tax man ! Plus lots of tax saving tips. |
|
|
 |
|
 |
|
Money
Forums Guides |
|
| Credit
Card Stoozing |
The
following guide explains the basics of credit
card stoozing in a step by step basis. |
|
| Discount
Vouchers |
Online
discount vouchers giving upto
50% off in stores such as Dixons,
Tesco, Avon, Currys, Boden and more. Many
of the vouchers are time limited - So check
back regularly |
|
| Money
Saving Guide |
Guide
to saving money on household bills & personal
finances - Start saving thousands of £'s
every year TODAY ! |
|
| Savings
Tree |
A
guide to Savings Accounts, from Cash ISA's to
Regular Savers to Premium Bonds, all explained
in an easy to understand manner. |
|
|
Users
Groups | Profile
| Messages
| FAQ | Sponsers
& Links | Member
list | Recommend this site | Top Money Saving Sitee
© 2004 - 2007 Moneyforums.co.uk / Market Oracle Ltd - Asserts copyright on all topics & posts made on this site. Moneyforums are open forums, and thus posts are NOT endorsed by Moneyforums.co.uk / Market Oracle Ltd . Any and all information provided within the Website is for general information purposes only and nor is or shall be deemed to constitute, financial or other advice. We recommend that independent professional advice is obtained before you purchase any product and/or service. All tools and guides are provided as is for general information purposes only.
|
|
|
