Lender changes rates

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One of the UK's leading mortgage lenders has changed the rates on a number of its home loan deals.

Nationwide's two-year fixed rate mortgage with a £599 fee is now available from 6.25 per cent, while the same deal without a fee is being offered from 6.65 per cent.

Five-year and ten-year fixed rate deals are now available with a £599 fee for 6.10 per cent and 6.14 per cent respectively, while the lender is also offering a 25-year fixed rate with the same fee for 6.28 per cent.

Other products for remortgaging or additional borrowing have also been amended by the company.

Matthew Carter, divisional director for mortgages at Nationwide, said: "As a building society we always aim to offer our members the best possible deals."

Earlier this month, Nationwide cut rates on its two-year and five-year deals, stating that recent reductions had allowed them to make such a move.

At the end of April, the company also changed its mortgage range in an effort to help first-time buyer that approach the building society directly.

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