Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
The Copper/Gold Ratio Would Change the Macro - 21st Oct 20
Are We Entering Stagflation That Will Boost Gold Price - 21st Oct 20
Crude Oil Price Stalls In Resistance Zone - 21st Oct 20
High-Profile Billionaire Gives Urgent Message to Stock Investors - 21st Oct 20
What's it Like to be a Budgie - Unique in a Cage 4K VR 360 - 21st Oct 20
Auto Trading: A Beginner Guide to Automation in Forex - 21st Oct 20
Gold Price Trend Forecast into 2021, Is Intel Dying?, Can Trump Win 2020? - 20th Oct 20
Gold Asks Where Is The Inflation - 20th Oct 20
Last Chance for this FREE Online Trading Course Worth $129 value - 20th Oct 20
More Short-term Stock Market Weakness Ahead - 20th Oct 20
Dell S3220DGF 32 Inch Curved Gaming Monitor Unboxing and Stand Assembly and Range of Movement - 20th Oct 20
Best Retail POS Software In Australia - 20th Oct 20
From Recession to an Ever-Deeper One - 19th Oct 20
Wales Closes Border With England, Stranded Motorists on Severn Bridge? Covid-19 Police Road Blocks - 19th Oct 20
Commodity Bull Market Cycle Starts with Euro and Dollar Trend Changes - 19th Oct 20
Stock Market Melt-Up Triggered a Short Squeeze In The NASDAQ and a Utilities Breakout - 19th Oct 20
Silver is Like Gold on Steroids - 19th Oct 20
Countdown to Election Mediocrity: Why Gold and Silver Can Protect Your Wealth - 19th Oct 20
“Hypergrowth” Is Spilling Into the Stock Market Like Never Before - 19th Oct 20
Is Oculus Quest 2 Good Upgrade for Samsung Gear VR Users? - 19th Oct 20
Low US Dollar Risky for Gold - 17th Oct 20
US 2020 Election: Are American's ready for Trump 2nd Term Twilight Zone Presidency? - 17th Oct 20
Custom Ryzen 5950x, 5900x, 5800x , RTX 3080, 3070 64gb DDR4 Gaming PC System Build Specs - 17th Oct 20
Gold Jumps above $1,900 Again - 16th Oct 20
US Economic Recovery Is in Need of Some Rescue - 16th Oct 20
Why You Should Focus on Growth Stocks Today - 16th Oct 20
Why Now is BEST Time to Upgrade Your PC System for Years - Ryzen 5000 CPUs, Nvidia RTX 3000 GPU's - 16th Oct 20
Beware of Trump’s October (November?) Election Surprise - 15th Oct 20
Stock Market SPY Retesting Critical Resistance From Fibonacci Price Amplitude Arc - 15th Oct 20
Fed Chairman Begs Congress to Stimulate Beleaguered US Economy - 15th Oct 20
Is Gold Market Going Back Into the 1970s? - 15th Oct 20
Things you Should know before Trade Cryptos - 15th Oct 20
Gold and Silver Price Ready For Another Rally Attempt - 14th Oct 20
Do Low Interest Rates Mean Higher Stocks? Not so Fast… - 14th Oct 20
US Debt Is Going Up but Leaving GDP Behind - 14th Oct 20
Dell S3220DGF 31.5 Inch VA Gaming Monitor Amazon Prime Day Bargain Price! But WIll it Get Delivered? - 14th Oct 20
Karcher K7 Pressure Washer Amazon Prime Day Bargain 51% Discount! - 14th Oct 20
Top Strategies Day Traders Adopt - 14th Oct 20
AMD is KILLING Intel as Ryzen Zen 3 Takes Gaming Crown, AMD Set to Achieve CPU Market Dominance - 13th Oct 20
Amazon Prime Day Real or Fake Sales to Get Rid of Dead Stock? - 13th Oct 20
Stock Market Short-term Top Expected - 13th Oct 20
Fun Stuff to Do with a Budgie or Parakeet, a Child's Best Pet Bird Friend - 13th Oct 20
Who Will Win the Race to Open a Casino in Japan? - 13th Oct 20
Fear Grips Stock Market Short-Sellers -- What to Make of It - 12th Oct 20
For Some Remote Workers, It Pays to Stay Home… If Home Stays Local - 12th Oct 20
A Big Move In Silver: Watch The Currency Markets - 12th Oct 20
Precious Metals and Commodities Comprehensive - 11th Oct 20
The Election Does Not Matter, Stick With Stock Winners Like Clean Energy - 11th Oct 20
Gold Stocks Are Cheap, But Not for Long - 11th Oct 20
Gold Miners Ready to Fall Further - 10th Oct 29
What Happens When the Stumble-Through Economy Stalls - 10th Oct 29
This Is What The Stock Market Is Saying About Trump’s Re-Election - 10th Oct 29
Here Is Everything You Must Know About Insolvency - 10th Oct 29
Sheffield Coronavirus Warning - UK Heading for Higher Covid-19 Infections than April Peak! - 10th Oct 29
Q2 Was Disastrous. But What’s Next for the US Economy – and Gold? - 9th Oct 20
Q4 Market Forecast: How to Invest in a World Awash in Debt - 9th Oct 20
A complete paradigm shift will make gold the generational trade - 9th Oct 20
Why You Should Look for Stocks Climbing Out of a “Big Base” - 9th Oct 20
UK Coronavirus Pandemic Wave 2 - Daily Covid-19 Positive Test Cases Forecast - 9th Oct 20
Ryzen ZEN 3: The Final Nail in Intel's Coffin! Cinebench Scores 5300x, 5600x, 5800x, 5900x 5950x - 9th Oct 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

Nationwide Launches New UK 25 Year Fixed Rate Mortgage

Personal_Finance / Mortgages Jul 13, 2007 - 02:08 PM GMT

By: Nationwide

Personal_Finance

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.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules