Nationwide Launches NewBuy Products
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwire) -- 03/12/12 -- Building Society is showing its support for today's launch of the NewBuy scheme by introducing a NewBuy range.
The Society is offering borrowers who buy a new-build house or flat in England with a builder that is registered under the NewBuy scheme the option of a three or five-year fixed rate mortgage at 95% LTV.
New rates include:
Three-year fixed rate available at 5.69% (95% LTV)
Five-year fixed rate available at 5.99% (95% LTV)
These rates match those currently available for customers purchasing a second hand property at 90% LTV.
The first phase will see products available to intermediaries only. The Society will make the products available through branches at a later date.
Andrew Baddeley-Chappell, Head of Mortgage Strategy and Policy at Nationwide, said: "Nationwide is committed to supporting the NewBuy scheme and is one of just a handful of lenders making products available from launch.
"The widening gap in housing provision is undisputed. Nationwide is supportive of this initiative that enables a return to lower deposit mortgages within the new-build sector.
"NewBuy will boost the supply of properties, increase employment, and provide affordable mortgages to those with more modest deposits, including first time buyers.
"This is just another example of how Nationwide is on the borrower's side and is committed to helping them access affordable and competitive mortgage deals."
Notes to editors:
Key features of the fixed and tracker mortgage product range for new applications
Throughout the deal period, a percentage of the outstanding loan is payable as detailed below. Overpayments of up to GBP 500 per month are permitted without the need to pay an early repayment charge.
Nationwide Building Society is the world's largest building society and a top-three provider of and in the UK. It is also a major provider of , and . With around 16 million members, Nationwide has a relationship with almost a quarter of the UK population.
Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the year 2010/11 Nationwide made a strong underlying profit of GBP 276 million - up 30% from the previous year. Its strong financial performance and prudent business model means that Nationwide is included in Global Finance magazine's Top 50 Safest Banks in the World.
Contacts:
Media information:
Jennifer Williams
01793 655354
Michelle Slade
01793 657500
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Datum: 12.03.2012 - 12:59 Uhr
Sprache: Deutsch
News-ID 123737
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contact information:
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LONDON, UNITED KINGDOM
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Insurance
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