The Sunday Times - Nationwide offering five-year mortgages at below 1%
Britain’s biggest building society has joined in the competition for borrowers by offering not one but two of the cheapest fixed-rate deals in history.
Nationwide will charge 0.99 per cent for a five-year fixed-rate deal, the first fix of this duration below 1 per cent. It costs £1,499, is available to home movers and remortgagers, and requires 40 per cent equity.
Aaron Strutt, director at the mortgage broker Trinity Financial, described the deals as “amazing”. He said: “There is a good choice of lenders offering sub-1 per cent rates. Most are available interest-only and borrowers can extend the mortgage term.”