New deal aimed at new buyers

Published: April 28, 2008

Nationwide Building Society is to launch a new deal aimed at helping first-time buyers onto the property ladder.

New buyers will receive a £300 discount on the reservation fee and a £100 discount on legal fees if they deal directly with Nationwide when taking out the firm's three-year fixed-rate mortgage or tracker-rate mortgage.

It is great news for first-time buyers who are looking at tracker and fixed-rate mortgages.

Nationwide's fixed-rate deal comes with mortgage interest rates of 5.75 per cent, while the tracker-rate product has mortgage interest rates of 5.74 per cent.

"As a building society it is important to us to support first-time buyers who may be struggling to get onto the housing ladder," explained Matthew Carter, Nationwide's divisional director for mortgages.

"The £300 discount will bring the reservation fee down to just £299, easing access for first-time buyers to fair and transparent mortgages," he added.

The offer for first-time buyers who deal directly with Nationwide will be available from May 1st.