Nationwide mortgage rates reduced

Nationwide Building Society today became the latest mortgage provider to cut its mortgages rates in line with the 0.25 per cent cut in interest rates last week.

Its tracker mortgages will see the full 0.25 per cent cut, while its Base Mortgage Rate (BMR) will be cut by 0.10 per cent to 5.89 per cent for new and existing borrowers.

Nationwide also offers a range of benefits on mortgages including options to overpay, underpay or take a payment holiday.

It also does not impose a Higher Lending Charge for high percentage borrowing.

Nationwides' savings rates are currently under review and an announcement will follow.