Nationwide Mortgages

The Nationwide announced the launch of its new convincing service for people moving or purchasing a home. The Nationwide Mortgages service covers home buying and selling and is offered through a national network of Licensed Convincing Companies, LMS, as the latest enhancement to the society's mortgage package. Analysts have commented that the service represents the latest attempt to entice consumers, particularly FTBs (first time buyers), into taking out a mortgage loan with Nationwide and it is demonstrative of the competition in the current market.

Nationwide Mortgage offers three types of mortgages. They are fixed rate mortgages, variable mortgage (Base Mortgage Rate) and tracker mortgages. customer can also get a range of flexible features such as interest is calculated daily, make underpayments, overpayments and take a payment holiday between 3 and 12 months, available as repayment or interest-only mortgages and no hidden fees or charges.

All of the Nationwide Mortgages Are Available As:

• Repayment mortgages, where the money paid in each month covers both capital and interest repayments
• Interest-only mortgages, where monthly payments only cover the interest that's being charged on the mortgage
• A combination of repayment and interest-only mortgages

It launched the new Nationwide UK 25 year fixed rate mortgage in March 2007. This product of Nationwide not only offers good value and the security on fixed payments. They also provide flexibility and there are no ahead of time repayments charges. It is fully portable and it is an attractive option for the first time buyers or borrowers who are moving their homes.

Features of Nationawide Mortgages:

1. There is no extra charges for repaying the mortgage amount before time.
2. Flexibility: The ability to overpay, underpay and take payment holidays.
3. Portability: The portability enables all the existing clients of Nationwide mortgage to tranfer their mortgage to a new property and additional loan amount is given on the new property.
4. Reservation fee of £599 and £100 discount for existing borrowers.
5. Simplicity: There is no need to apply for new deals everytime.
6. They provide mortgage products for home movers and as well as remortgagors.

The Nationwide Mortgages also offer a one-minute in-principle agreement if customers are in that much of a hurry. Nationwide Mortgages are flexible, CAT marked and there are some rare benefits on offer.