It is being offered only to the society’s existing mortgage customers whose
house value is less than the mortgage on the property, but who are looking
to move home and borrow more.
The product’s availability comes despite the much tighter lending criteria
introduced by virtually all lenders in the wake of the credit crunch.
Nationwide said that its existing customers in negative equity would be
offered its 95pc loan-to-value deals, with rates of 6.73pc fixed for three
years or 7.48pc fixed for five years.
The interest rates for the additional borrowing, up to another 30pc – …
Read the original article at Telegraph
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Tags: deal, finance, house, Interest Rates, mortgage, UK
