View more on these topics

Nationwide increases heat in mortgage pricing war


Nationwide is increasing the heat in the mortgage price war by slashing the rate on its fixed-rate mortgages by 0.9 per cent.


The move is expected to trigger a more competitive pricing approach from other mutuals that have been losing market share to high street banks.


It is also cutting the rate on its discount mortgages by 0.25 per cent, introducing a 0.1 per cent loyalty discount for existing customers looking to move home and launching a capped rate mortgage.


The capped rate mortgage is at 5.69 per cent (5.9 per cent apr) for two years up to 90 per cent loan to value. Customers that borrow 95 per cent loan to value will be offered 5.89 per cent (6.3 per cent apr).


It has no redemption penalties and IFAs will receive a procuration fee of £150 on completion.

Recommended

Virgin launches personal finance website

Virgin Net is spending more than £50m on an internet site that will recommend financial products to users when they are buying condoms.The online service provider is spending the money to revitalise its online retail services which will include the launch of a personal finance channel in March.The service will be free to its 150,000 […]

Pre-budget rumours continue

As we have noted with talk of a 10p tax rate comes talk of the end of mortgage interest relief. With this possibility comes scope to open up a very interesting debate with company directors and partners who have credit balance loan accounts or capital accounts i.e. their business owes them money!If this position exists […]

Leeds & Holbeck announces record business figures

Leeds & Holbeck Building Society&#39s mortgage lending increased by a record 36 per cent to £538m in 1998.Its savings balance rose £278m to £2.46bn and its total assets increased by 9.8 per cent to £3.12bn.Pre-tax profit increased by 26 per cent to £24.1m

Lambeth launches affinity account with QPR

Lambeth Building Society has teamed up with Queen&#39s Park Rangers to launch a savings account targeted at the football club&#39s supporters.Lambeth Simply Postal, the by-post arm of the building society, launched the Queen&#39s Park Rangers Savings Account at the club&#39s game against Watford last week.Lambeth claims the account offers a higher rate than other football […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment