Nationwide Deals With Strings

subedar1 — Fri, 30 Oct 2009 10:05:37 +0000

Nationwide has just launched a range of mortgage products of up to 90% LTV. Each of the products comes with free legal fees option and is available now.

But, there are strings attached.

The range is only available direct through Nationwide’s branches for existing customers moving home and first-time buyers.

Customers have to use the bank's FlexAccount as their main bank account and are required to deposit at least £750 a month to qualify for the deals.

New FlexAccount customers have to use Nationwide’s account transfer service to qualify.

Lenders Easing Mortgage Bottleneck

subedar1 — Wed, 02 Sep 2009 10:06:36 +0000

Signs are emerging that Lenders are starting to offer more mortgage products.

HSBC has joined other lenders offering new products and launched a 1.99% mortgage on a two-year discount rate – available to customers with a deposit of 40%.

Other mortgages within its new range include a two-year discount mortgage for customers with at least a 25% deposit at an interest rate of 2.49%.

HSBC has pledged to double its 2007 level of mortgage lending this year and has made £15bn available to customers. It was the largest net mortgage lender in the UK in the first half of 2009, with £4.2bn in new lending.

However, it seems that the Lenders are still cautious & only lending to customers with large deposits.

Neville Scott Lettings and Property Management » Mortgage Products

Nationwide Deals With Strings

Lenders Easing Mortgage Bottleneck