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Nationwide shaves fixed rates and tracker loans

Nationwide Building Society has made slight reductions in the rates on its fixed-rate and tracker mortgages.

Its two-year fixed rate goes down from 4.81 per cent to 4.79 per cent while the three-year fix rate is cut from 5.11 per cent to 5.09 per cent from 5.11 per cent and the five-year fix from 5.31 per cent to 5.29 per cent. The two-year tracker is now available at 4.04 per cent from a previous rate of 4.09 per cent, with its three-year tracker at 4.14 per cent, down from 4.19 per cent, and the five-year tracker at 4.24 per cent, down from 4.39 per cent.

Key features include flexible overpay and underpay features on all new loans and the option of taking a payment holiday.

Media relations manager Jennifer Williams says: “All new mortgage products are available to new and existing borrowers. New borrowers and all existing Nationwide members moving home get 12 months&#39 free mortgage payment protection insurance when they take out a new Nationwide mortgage.”

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