Mortgages  

Nationwide on board for Welsh Help to Buy

A spokesman for Nationwide confirmed that customers seeking to enter the scheme would have access to products such as its 2.34 per cent, two-year fixed or tracker rate at up to 75 per cent loan-to-value with £900 product fee, and its 2.64 per cent, three-year fixed rate at up to 75 per cent LTV with a £900 product fee.

Both products have a reduced product fee of £400 for first-time buyers and lower rates of 2.24 per cent and 2.54 per cent respectively for existing Nationwide mortgage customers.

The move comes after data from LSL Property Services revealed that the average house price in Wales has risen for the first time in months.

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Richard Sexton, director of e.surv chartered surveyors, part of LSL Property Services, said: “The economy is racing along and the rise in confidence, underpinned by better access to mortgages, is fuelling the property market in Wales.

“A shift in gear towards growth has become much more obvious. Prices have moved into positive territory for the first time in seven months with a rise of £1563 in September compared to August.”

LSL Property Services Index


House Price

Index

Monthly Change %

Annual Change %

£152,779

237.0

1.0

0.5

 

 

Adviser view

George Laidlaw, director of Carmarthenshire-based IFA Red Dot (Cymru) said: “We are not expecting much demand for Help to Buy due to the local demographics, but these Nationwide rates sound like a good deal.”