Nationwide hikes tracker rates

It says the move is ‘regrettable’ but unavoidable given the rising costs of wholesale finance. The move means Nationwide’s most expensive tracker mortgage is priced at 7.08% which is 2.58% above the Bank of England’s base rate. The cheapest trackers available are two-year and lifetime trackers at 60% LTV, now 1.58% above base rate. Matthew Carter, director of mortgages at Nationwide, says: “These changes will allow us to maintain control of the volume of business the Society is attracting, and to continue lending in a responsible and prudent way.” All rates will be reduced by 0.5% to th...