Nationwide launches loyalty scheme for customers

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Nationwide has announced a new scheme to reward loyalty among its customers. From tomorrow, if you bank with it you will get a special offers on mortgages.

"We wanted to give existing customers the clear message that their loyalty is valued," said Tracie Pearce, head of mortgages at Nationwide.

The deals on offer include a two-year and a five-year fixed-rate mortgage, but to benefit from either you will need to have a deposit of at least 30%.

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The two-year fixed-rate mortgage is offered to existing customers at 3.39%, and new customers at 3.49%, with a £999 fee.

Whereas, the five-year fixed-rate mortgage is available for all existing customers at 3.59% and new customers at a rate of 3.69%, also with a £999 fee.

First-time buyers will also get a £500 fee discount on both mortgages.