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Nationwide forces others to cut mortgage rates

29/07/2008

As homeowners continue to battle with mortgage payments, the Nationwide leads in cutting mortgage rates. This has had meant that other building societies have had to also follow suit in what is a fierce market place currently when it comes to getting a new or renewing a mortgage.

Last week the Yorkshire building society and the Halifax were forced into following suit in also cutting their mortgage rates. This month a number of other building societies have reduced their rates, with the Woolwich, Cheltenham &Gloucester and the Abbey reducing the cost of getting a mortgage with them.

When it comes to getting a general mortgage, Nationwide seems to be leading the mortgage market place with the cheapest mortgage currently on the market when arrangements fees are also considered.  

This offer with Nationwide can only be bought direct from the company itself and is not available through any brokers.  Though the Nationwide seems to be leading the market place with its competitive rates on mortgages, there is still room for other financial organisations to follow suit.

Getting a new mortgage or remortgaging is putting some what stress upon homeowners as they struggle to find a deal that’s suits them and is affordable. With the added stress of in some instances having to pay arrangement fees, these are outgoings that homeowners could do without in today’s current climate.


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