Nationwide Increases Mortgage Tracker Interest Rate
Published / Last Updated on 23/01/2008
Nationwide has increased its Mortgage tracker interest rate.
Nationwide puts up mortgage rates on its base rate trackers for new mortgage borrows by up to 0.15%.
Nationwide has increased rates twice since November, despite a base rare cut and suggests that the increased is for increased costs of borrowing money on the wholesale markets.
Our view
Nationwide is a mutual organisation , owned by its investors and therefore we suggest it has just passed these increased costs on to its borrowers rather than its savers. It is no surprise given that many lenders are facing increased costs and passing them on.
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