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Nationwide – Lifetime Tracker With Reservation Fee

Nationwide

Lifetime Tracker With Reservation Fee

Type: Tracker mortgage

Tracker term: Life of loan

Tracker rate: Loans up to 95% of valuation – 0.69% above Bank of England base rate, up to 90% of valuation – 0.39% above base rate

Payable rate: Up to 95% of valuation – 5.19%, up to 90% of valuation – 4.89%

Minimum loan; 1

Maximum loan: Up to 95% of valuation subject to a maximum of 250,000, up to 90% of valuation subject to a maximum of 500,000, up to 85% of valuation subject to a maximum of 1 million, loans above 1m negotiable

Income multiples: Existing borrowers up to 3.75 times principal income or three times joint, new borrowers up to 95% of valuation up to 3.25 times principal income plus second or 2.6 times joint, up to 75% of valuation – up to 3.5 times principal income plus second or 2.75 times joint

Flexible features: Overpayments of up to 500 a month, underpayments, payment holidays, lump sum withdrawals, interest calculated daily

Conditions: Switch & fix option allowing switch to a Nationwide fixed rate at any time without penalty, free valuation and legal fees for remortgages

Arrangement fee: 199 plus 99 administration fee for remortgages

Redemption fee: 5% of the amount repaid in year one, 4% in year two, 3% in year three, 2% in year four, 1% in year five

Introducers fee: Subject to negotiation

Tel: 0800 302010

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