The Nationwide has cut rates on its ten-year fixed rate mortgage, as well as adding a new two-year deal.
The new products will be available from Tuesday 20 November, but rates for two-year tracker deals will rise.
Nationwide’s ten-year fixed rate has been cut to 5.68% with a £499 fee, following recent rate cuts for five-year and 25-year deals. The building society has also launched a two-year fixed rate deal of 5.68%.
However, two-year tracker rates for house purchase have risen to 5.58% from 5.48%, but will now be able to lend up to £500,000, up from £300,000. Two-year trackers have also been introduced for remortgages, switchers and additional borrowing at a rate of 5.68%.
Nationwide says longer-term deals are becoming more popular with borrowers, though two-year deals remain the favourite.
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