28
Apr
First-time buyers to benefit from Nationwide offer
First-time buyers signing up to Nationwide's three-year fixed or
tracker mortgages will be eligible for a £300 discount on the
reservation fee and a £100 discount on legal fees from
Thursday.
Both products are available up to 95 per cent loan-to-value and
have no higher lending charges. The three-year fixed-rate is 5.75
per cent, while the three-year tracker has a rate of 5.74 per
cent.
Nationwide's divisional director for mortgages Matthew Carter
commented: "As a building society it is important to us to support
first-time buyers who may be struggling to get onto the housing
ladder."
He added that the discounts would make it easier for first-time
buyers to access "fair and transparent mortgages".
Subsequent to the disappearance of all 100 per cent loan-to-value
mortgages from the market, the Council of Mortgage Lenders found
that many people are turning to their families for help in raising
their first deposit.
