Nationwide Building Society customers taking out a qualifying mortgage could receive up to £500 in cashback through the lender’s Green Rewards scheme. The incentive applies to eligible properties and has been highlighted alongside a two-year tracker mortgage currently priced at 4.22%.
The offer was included in the latest selection of notable financial products identified by Moneyfactscompare.co.uk. According to the financial comparison service, Nationwide was among several lenders to increase mortgage rates during the week, although the product remained rated as a Best Buy.
Nationwide Mortgage Customers May Qualify for £500 Cashback
The Nationwide product highlighted by Moneyfactscompare.co.uk is a two-year variable tracker mortgage available at 80% loan-to-value. Its current rate stands at 4.22%, following a smaller increase than some other tracker products offered by the lender.
According to Caitlyn Eastell, personal finance analyst at Moneyfactscompare.co.uk, selected Nationwide tracker mortgages increased by as much as 0.09%. The two-year 80% loan-to-value product saw a slightly smaller increase.
The mortgage carries a £999 fee. It also includes a free property valuation, while customers whose properties meet the required criteria may qualify for up to £500 in Green Rewards cashback.
Moneyfactscompare.co.uk described the product as remaining competitive despite the rate rise and retained its Best Buy status. The mortgage also received an Excellent Moneyfacts product rating.
Eastell noted that tracker mortgages could attract borrowers while fixed mortgage rates are rising because their initial rates may currently be lower. She also pointed to the main risk attached to this type of mortgage: repayments can increase if the Bank of England base rate rises.
The £500 figure therefore does not apply automatically to every Nationwide customer. It is linked specifically to qualifying properties under the Green Rewards element attached to the mortgage product.
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Other Savings and Switching Deals Were Also Highlighted
Nationwide’s mortgage was one of several financial products included in the latest Moneyfactscompare.co.uk Pick of the Week. The Union Bank of India’s one-year Fixed Rate Deposit was also selected after its rate increased to 5.12%. According to Eastell, a customer placing the minimum £1,000 into the account would earn around £51 in interest over the course of a year.
Early access to the money is not permitted, and additional deposits cannot be made after the initial investment. Existing Fixed Rate Deposit customers may receive a 0.10% bonus if they reinvest into another bond when the account matures.
Starling Bank’s Easy Saver was another product highlighted. It offers 5% AER on balances of up to £25,000, including a 2.50% bonus that is subject to conditions. Customers can make unlimited withdrawals without penalties, although they must have or open a Starling Personal account and open the Easy Saver within 30 days of opening a new current account to receive the full rate.
Barclays, meanwhile, has introduced a switching offer worth up to £300 on its Bank Account. Customers must use the Current Account Switch Service and meet conditions including depositing at least £2,000.
The account also provides access to Blue Rewards, members-only savings products and cashback opportunities with participating partners. It includes a £15 interest-free buffer on arranged overdrafts and, like the other products selected, received an Excellent Moneyfacts product rating.
