Twenty-five year fixed-rate mortgages from Nationwide by Finance News Bulletin

Published: 15/06/07

Nationwide Building Society, a mainstream mortgage lender in the UK, has become the first of its type to offer 25-year fixed-rate loans to consumers. Amongst a climate of rising interest rates, many borrowers are looking for a more permanent sense of security, one that could be offered by the ability to lock in for over two decades.

Consumers are increasingly turning to fixed-rate mortgage loans, with over three-quarters of mortgage borrowers seeking deals of this nature. The 25 year fix from Nationwide is by no means the first of this nature, with Cheshire and Kent Reliance bringing similar products to market.

However, Nationwide are the first major borrower to offer a fix of this type. The deal does not offer any early redemption charges following a 10-year period, but the rate is not quite as good as other 10-year fixed-rates on the market. The product includes an arrangement fee.

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