UK Money News
27th February 2008
Nationwide counters negative press
Nationwide has said that its mortgage deals for customers with small deposits, remain among the most competitive on the high street.
The building society made the announcement after its decision to restrict its best rate to borrowers with a 25 per cent deposit.
The move attracted quite a bit of attention, as it is seen as the beginning of a new trend in the financial services sector post-credit crunch.
But Nationwide has been keen to point out that mortgages with a 95 per cent loan-to-value (LTV) ratio are still available and that it rates are competitive when put up against rival lenders.
"Customers should be aware that the headline interest rate is not all they pay and must also take into account the fees and charges that form part of their mortgage deal," said Matthew Carter, director of mortgages at Nationwide.
"Buying your first home is an exciting experience, which shouldn't be spoiled by paying more than you need to for your mortgage.
"We urge first time buyers to shop around and compare the cost of each deal before committing, it could make a big difference," he added.
With lenders keen to avoid riskier loans, commentators are expecting more and more mortgage providers to demand larger deposits.
LTVs are already falling, with the once common plus-100 per cent deal now a rare commodity.
back to February's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
