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A new 25 year fixed rate mortgage launched by Nationwide

13/07/2007

Nationwide Building Society has reintroduced its 25 year fixed rate mortgage at a stunning rate of 6.39 per cent.

Within 5 weeks the 25 year fixed rate mortgage was sold out during March 2007. This was simply because the product offered security of fixed payments and was good value for money with flexibility, no early redemption penalties were involved after the first 10 years making this an attractive product for first-time buyers.

Nationwide executive director, Stuart Bernau commented: “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.”


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