Mortgage deals for movers – your options

If you're moving home, the last thing you need are over-complicated mortgage deals. Nationwide keep things simple with two main interest rates - fixed and variable. Both mortgage deals have plenty of benefits, but it's worth reading on to find out which suits you the best.

Which rate is right for you?

• What is a fixed rate mortgage?

  What are fixed rate mortgage deals?
  With fixed rate mortgage deals, your interest is fixed at the same level for an agreed amount of time. This means that your monthly repayments stay the same for the entire fixed period.

  

  Because fixed mortgage interest rates mean that your monthly repayments will stay the same for an agreed length of time, they offer you the added security of knowing how much will come out of your account each month. If you're on a strict budget, or prefer to know what your outgoings are, you may want to consider fixed mortgage interest rates.

• What is a variable rate mortgage?

  Variable mortgage interest rates are deals where the interest you are charged can go up or down depending on market conditions. This means that if rates fall, your payments could go down. However, if interest rates rise - then so do your repayments.

  If you're happy to take the risk, then it could be the right deal for you.

  We have two types of variable rate mortgages:

  Our tracker mortgage interest rates are a form of variable rate that follow fluctuations in the Bank of England's base rate. They change as that rate changes, by an agreed additional percentage.

  Our Base Mortgage Rate (BMR) is a fully flexible mortgage product where we set the mortgage interest rates. The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.