New fixed-rate mortgages announced

Nationwide has announced it is lowering the costs of some of its fixed-rate mortgages, while withdrawing some other products.

The lender said today that it is removing its ten and 25-year fixed-rate deals, with the changes to its range coming in with effect from tomorrow (November 21st).

Announcing that the building society was "pleased" to be cutting rates on some of its fixed deals, divisional director for mortgages Matthew Carter said: "Nationwide's two-year fixed-rate mortgage with a £599 fee is available from 4.98 per cent, making it one of the most competitive on the high street."

He added that for first-time buyers the fee on the three-year fixed-rate mortgage would be lower at £299.

Meanwhile, Coventry Building Society has announced a series of new fixed-rate mortgage deals.

These include three offset products at a maximum loan-to-value of 65 per cent and rates between 5.49 per cent and 5.84 per cent, plus a deal for first-time buyers at up to 90 per cent loan-to-value at a 6.99 per cent rate.