Nationwide Building Society has introduced a new mortgage deal that has earned an "outstanding" rating from financial experts, offering first-time buyers up to £500 cashback.
Nationwide mortgage deal details
Personal Finance Analyst Caitlyn Eastell from Moneyfactscompare.co.uk has assessed several deals this week and awarded Nationwide one of its top ratings for its two-year fixed rate mortgage at 95% loan-to-value.
Caitlyn said: "Nationwide Building Society has reduced a selection of its fixed rate mortgages by up to 0.36%. While the two-year option at 95% loan-to-value has seen a slightly smaller cut, it's enough to enter the 'Best Buy' tables and is now priced at a competitive 5.42%."
First-time buyers may also be pleased to note the generous incentive package, which includes a free valuation and £500 cashback. On top of this, those with qualifying green properties could receive up to an additional £500.
Borrowers have the option to make overpayments, which can reduce their overall term, and underpayments are also permitted subject to approval and provided overpayments have been made.
Overall, this product becomes a Moneyfacts Best Buy and earns an Outstanding Moneyfacts product rating.
Kent Reliance bond update
She added: "This week, Kent Reliance increased the rate on its range of Fixed Rate Bonds. The one-year option fares best and now pays an attractive 4.71% AER, which takes the market-leading position."
Savers will need to deposit at least £1,000, but further additions are permitted for 14 days from account opening via a nominated account, which may add to its appeal. As well as paying interest on its anniversary, there is also a monthly interest option.
Like many fixed bonds, earlier access is not permitted so savers should plan carefully and be comfortable locking away their cash for the full term. On assessment, the account earns an Excellent Moneyfacts product rating.
