Nationwide
Nationwide is the world's biggest Building Society with around 15 million members. It's the UK's 2nd largest provider of mortgages and savings.
During its history it has merged with over 100 other societies. In an era where most building societies have privatised themselves as banks, Nationwide is still a mutual society (owned by its members) with a strong commitment to staying that way.
As a mortgage lender, Nationwide is known for making flexible features standard for all its borrowers. For example, all of its mortgages have interest calculated daily, and you can choose to over- or under-pay (as long as you don't go into arrears).
You can get advice on Nationwide mortgages at any time using the short enquiry form on your right at any time to get advice on Nationwide mortgages and to compare other lenders.
About the Nationwide mortgage range
Nationwide has had a long commitment to keeping its Standard Variable Rate at only 2% above base rate, so some of its borrowers are currently enjoying 2.5% interest rates.
In 2009 Nationwide has been cautiously reintroducing the 125% mortgage - but only for existing customers who are moving house and have negative equity to take care of first. The deal includes an unsecured loan to repay the difference between your available equity and the original mortgage loan. Although this mortgage is a very narrowly aimed product, it does show that Nationwide is prepared to be bold in adjusting to the housing market.
Nationwide's full mortgage range covers 56 different residential mortgages up to 85% loan to value.
Nationwide also takes an innovative approach to fees and repayment charges. Its "Reservation Fees" are typically lower for first-time buyers than for those already on the property ladder. For example, you would pay only £299 in fees for a first-time-buyer 3-year fixed rate mortgage – fully £300 less than the standard reservation fee.
Its variable-rate Tracker mortgages offer a "switch and fix" facility: you can switch to a fixed-rate mortgage if interest rate changes cause your monthly payments to rise more than you could allow for.
It can be tricky comparing Nationwide mortgages to other lenders, because of the difference in price structures. Plus, their deals are often loaded with useful freebies like free valuation & legal fees, and even 3 months free insurance cover. So a word with an expert adviser would certainly save you some time comparing.
Choosing a Nationwide Mortgage
Did you know that Money Hospital can help you choose and compare Nationwide mortgages with all the other leading options?
The enquiry form here will put you in touch with an FSA-authorised mortgage adviser. They can give you a much quicker and fairer comparison of the market than you can get by searching the internet for rates – and they're guaranteed to act in your best interests.
If you're ready to get a mortgage soon, fill out the quick 1-minute enquiry form to get mortgage advice by phone.