Nationwide
2 year fixed rate mortgage
changes as at 10/02/06
Nationwide this week unveiled new fixed rate a tracker mortgages. The new 2 year fixed rate mortgage comes with a 4.44% interest rate, which moves to the building societies standard variable rate after two years, giving an overall APR of 5.89% for the mortgage term. This mortgage is only available to borrowers who can afford a 10% deposit and £599 reservation fee. The advantage of this mortgage is there is no extended tie-in after the fixed rate period is over, so you pay no redemption penalty for switching mortgages after the fixed rate term ends.