Nationwide Offers 25 year Fixed Rate Mortgage
Following on from the Prime Minster's announcement on Wednesday, Nationwide is relaunching its 25-year fixed-rate mortgage.The 25 year fixed rate mortgage comes with a rate of 6.39% and will be available from Tuesday 17 July.
Nationwide first launched the 25 year fix rate loan in March 2007 and at the time, sold out in five weeks.
The UK's largest building society said that the product not only offers good value and the security of fixed payments but also provides flexibility - there are no early repayment charges after the first 10 years and it is fully portable - making it an attractive option for first time buyers or borrowers moving home who still have a term of at least 25 years.
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