Great news for some house owners in Surrey and Hampshire.
Nationwide has announced interest rate cuts on a number of its fixed-rate mortgages, and has launched a new range of tracker mortgages.
As of 17th  February, new fixed-rate mortgage customers at the building society will be able to sign up for deals 0.2% lower than current rates.
The lower rates will also be available on remortgages and to current Nationwide customers renewing their mortgage contract.
Nationwide’s re-launched range of new tracker mortgages include two and three year deals. Two year tracker products start at 3.98%.
Andy McQueen, mortgage director, said: “We are increasing our mortgage product range with the re-launch of a two year tracker and a new three year tracker for those customers who are looking for a longer term tracker deal.”
Nationwide subsidiaries Cheshire and Derbyshire Building Societies recently launched a new range of fixed-rate bonds.
The housing and mortgage market is changing and there definitley more interest from buyers at the moment.
I’m not saying that the housing market has bottomed, but the scares from the media saying house prices would fall another 20% this year seem to be totally at odds with whats going on in the market,
I believe this is truly a good time to buy a property…for the long term, but also as an investment.