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Nationwide leads way on cheaper mortgage products

Nationwide is launching three-year and five-year fixed-rate mortgages at 5.49 per cent and 5.79 per cent respectively.


Both products offer 90 per cent loan to value and have an introduction fee of £295.


Both Portman Building Society and Private Label are following Nationwide&#39s lead.


Private Label is introducing two-year, four-year, five-year and seven-year fixed-rate mortgages at 6.25 per cent, 6.35 per cent, 5.75 per cent and 6.49 per cent respectively.


All products have a £165 introduction fee.


Portman is cutting its standard variable rate for mortgages by 0.45 per cent to 8.1 per cent.


It is holding the interest rates of its Fixed Interest Bond and ISA Start Account and cutting the rate on its Instant Access Account by 0.35 to 5.25 per cent and its 90 Day Notice Account by 0.1 per cent to 5.5 per cent.

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