New loan rates have been announced by Nationwide, coming into effect today.
This is the third time in three months that the high street lender has cut loan rates.
The building society continues to offer the lowest fixed loan rate over two years of all lenders, starting at 4.49 per cent. Additionally, it has reduced the loan rate of its two-year tracker rate to 4.74 per cent.
Marketing director at Nationwide Steve Clode said with consistent cuts in loan rates, Nationwide has shown its commitment to fairness and value.
Unlike other lenders who might "tweak one or two rates to grab headlines", by cutting loan rates across Nationwide's full loan range of fixed loan rate deals and adjusting its two-year tracker, it ensures new and existing loan holders are offered a good choice.
Fixed loan rate deals available from Nationwide includes the two-year product at 4.49 per cent (down from 4.69 per cent), the three-year product at 4.69 per cent (down from 4.89 per cent) and the five-year product at 4.79 per cent (down from 4.89 per cent).
The ten-year fixed loan rate has been lowered from 4.99 per cent to 4.89 per cent.
For borrowers who believe rates may continue to fall, the two-year tracker product offers a loan rate available from 4.74 per cent, which used to be 4.79 per cent.
Nationwide is the UK's fourth largest mortgage lender and seventh largest retail banking, saving and lending organisation by asset size. It is the largest building society in the world and is committed to staying mutual.
Mortgages, savings accounts, current accounts, credit cards, life insurance, investment products, personal loans and household insurance are all available from the Nationwide Group.
Nationwide cuts loan rates for third time in three months
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Nationwide cuts loan rates for third time in three months
Tue, 21 Jun 2005
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