'Nationwide to set floor on tracker mortgage interest rates'

Nationwide to set floor on tracker mortgage interest rates

01/04/09 01:40

Nationwide, along with a few other mortgage lenders, will be setting a floor on their tracker mortgage rates. This means that even the base rate falls below 2%, Nationwide will still gain sizeable profit margins. They have invoked a clause in their mortgage contracts to set the floor.

This will also allow Nationwide to keep up with their contractual obligations to their savings account clients.

Link: Nationwide to set floor on tracker mortgage rates | MoneyHighStreet.com

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