Nationwide product launch with effect from 1 December 2008

We are pleased to announce that we will be expanding our mortgage product range by launching a new 2 year tracker product with effect from 1 December 2008. Features of the product include:

• Available up to 75% LTV
• Reservation fee of £995
• Maximum loan size £500K
• Tracker floor of 1% (see below)

If the Bank of England Base rate is 1% or less during the tracker period, the rate payable will be 1% plus the agreed set percentage above the Bank of England base rate. This means that the rate payable will never go below 1% plus the additional percentage rate of the tracker mortgage. This is known as the tracker floor.

House Purchase and Remortgage

To Reserve Products

Don't forget, products can be reserved online through our e trading website or via MTE (Mortgage Trading Exchange). Please click here for further details.

If you decide to change a reserved product where your client has opted to add the fee to the loan, they must pay the first product reservation fee before you can book a new product. If the new product selected has a fee it can then be either added to the loan or paid up front. All other rates and lending criteria remain the same, for full details please visit our website;

www.nationwide.co.uk/intermediaries

Base Mortgage Rate (BMR) for Porting

From 1 December Nationwide BMR is being withdrawn for all customers for new business and additional borrowing.

It will therefore only be available to existing Nationwide customers moving home who are already on BMR and wish to port to the BMR Porting Only product. They can only port across their existing balance and any additional borrowing required must be taken on a product other than the BMR Porting Only product.

Applications received on the BMR Porting Only product that are not for existing customers who are porting their BMR on its existing balance will not be accepted and the application will be returned.

The following processes apply where an existing borrower who is already on BMR wishes to move home and continue with the BMR Porting Only product:

• Select the BMR Porting Only product via our e trading website. You will be required to key your client's existing Nationwide mortgage details when completing the application.
• If you normally use MTE you will only be able to obtain a KFI from the Nationwide website where the BMR Porting Only is required. You will then need to submit a paper application form to your usual Service Centre.