Richard Napier, director of mortgages and savings for the society, said “this more flexible approach clearly demonstrates the tangible difference our way of doing business can deliver”. .
Key features
■ Charges decrease 1 percentage point a year as mortgage progresses
■ Scale consistent across two to five-year fixes
■ 5 per cent in year one to 1per cent in year five on a five-year fix
■ 2 per cent in year one to 1per cent in year two of a two-year fix
Adviser verdict
Daniel Bailey, mortgage broker for Derbyshire-based Middleton Finance, said: “It is welcome news for consumers to see charges going down rather than just remaining around 3 per cent. It is potentially another way for Nationwide to give a different angle to other lenders when rates are so low and everyone seems to be offering deals.”
