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Nationwide to cut five-year fixed to 3.59%

Nationwide Building Society is to reduce one of its five-year fixed rate mortgages by 0.1 per cent to 3.59 per cent.

The product is available up to 70 per cent loan-to-value with a £900 product fee and £99 booking fee.

The lender is also making a number of rate reductions to its 85 per cent LTV range.

Head of mortgages Martyn Dyson says: “The 0.1 per cent reduction to our five-year fixed rate product available up to 70 per cent LTV is great news for those wanting longer-term certainty over their monthly mortgage payments.  Our five-year products have been popular with both borrowers and brokers, so we expect strong demand to continue following this re-price.”

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