Nationwide announces pricing structure change to mortgage range

28-Nov-2006

Nationwide Building Society has announced pricing changes to its mortgage range, which may benefit first time buyers.

Offering one set of rates for first time buyers or repeat purchasers looking to buy or move home, Nationwide is now offering purchasing clients lower rates of interest than customers looking to remortgage or borrow additional funds.

Furthermore, Nationwide is now offering clients a range of flexible features, such as the ability to overpay or underpay.

"By making these changes we achieve greater flexibility and will be better placed to offer all our mortgage customers exactly what they want," said Stuart Bernau, executive director of Nationwide.

"These changes enable us to offer really competitive mortgage deals to customer, whether they are changing home, changing lender or changing their deal," he added.

Potentially of further benefit to first time buyers struggling to build a large deposit, Nationwide has also announced its decision to abandon its higher lending charge for high value mortgages.

In addition to mortgages, Nationwide offers a range of products, including current accounts and insurance products.

To find out more about all the different and creative and innovative mortgages designed specifically for first time buyers click here.

As the market for first time buyers toughens, new companies are offering new services to help first time buyers buy new properties by working with the house-builders.

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