Nationwide launch new mortgage products
Mortgage lender Nationwide is looking to expand their mortgage product range to help struggling customers who only have a 5 per cent deposit available.
The new two and three year tracker and fixed-rate mortgages are aimed at customers whose current mortgage deals are coming to the end and for people who are currently on standard variable rates.
The range of products will start to take affect from tomorrow and will replace the current two-year fixed-rate mortgage loans for customers who are looking to borrow 95 per cent of their property value.
Andy McQueen from Nationwide commented: "We are now offering a range of additional mortgage options for existing customers who are coming to the end of their deal. As well as being able to choose from a wider product range, the new capped trackers will give customers the added assurance that their payments will not go beyond a certain level should interest rates rise during their deal term.”
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