Nationwide Building Society is launching a range of shared equity mortgage deals and has confirmed it will offer loans for the Government’s expanded London help-to-buy Equity Loan scheme.
From 27 January its two-year fixed-rate products at 60 per cent loan-to-value (LTV) will be 1.89 per cent with a £999 fee and 2.29 per cent with no fee.
At 75 per cent LTV, two-year fixed-rates start at 1.99 per cent with a £999 fee and 2.39 per cent with no fee.
Rates for the five-year fixed rate shared equity products start at 2.64 per cent for those up to 60 per cent LTV with a £999 fee and 2.84 per cent with no fee.
At 75 per cent LTV, rates start at 2.74 per cent with a £999 fee and 2.94 per cent with no fee.
With the two-year tracker mortgages deals, shared equity products start at 1.64 per cent with a £999 fee and 2.04 per cent with no fee up to 60 per cent LTV.
There are no early redemption charges on the tracker products.
Mortgage applicants qualify for a fee-free standard valuation, plus a further £250 cashback if they have a Nationwide Flex main current account.
Simon Webster, managing director at Facts & Figures Financial Planners in Ashford, said: “Nationwide is a serious player in the mortgage market.
“It is particularly flexible, and the fact it has launched a range in this sector underlines its growing importance. I like Nationwide. This is a decent range and the Government-backed scheme is particularly attractive.”
