Nationwide helps first-time buyers

29-Apr-2008

Nationwide Building Society is launching a new affordable housing offer which will help first-time buyers who deal with the company directly.

Available from May 1st, the offer incorporates a £300 discount on the reservation fee and a £100 discount on legal fees for first-time buyers choosing the Nationwide's three year fixed-rate (available from 5.75 per cent) or three year tracker (available from 5.74 per cent) mortgage.

Furthermore, both products are available up to 95 per cent loan to value and have no higher lending charges.

Matthew Carter, Nationwide's divisional director for mortgages, commented: "As a building society it is important to us to support first-time buyers who may be struggling to get onto the housing ladder.

"The £300 discount will bring the reservation fee down to just £299, easing access for first-time buyers to fair and transparent mortgages."

He added that absence of a charge for higher percentage borrowing will save first-time buyers around £2,000.

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