"As economic conditions continue to stabilise, we are able to make further cuts to our mortgage rates, building on the reductions we have made in recent weeks."
Nationwide Building Society has announced a new round of fixed mortgage reductions of up to 0.40 percentage points.
The new rates will be effective from tomorrow, Wednesday 23rd August.
For new customers moving home, rates have reduced by up to 0.40% across selected two, three and five-year fixed products up to 95% LTV. A five-year fixed rate at 60% LTV has reduced by 40bps to 5.39% with no fee, a three-year fix at 75% LTV has reduced to 5.89% with a £999 fee and a two-year fix at 60% LTV is now at 5.94% with a £999 fee.
First-time buyer products have reduced by up to 0.35%, with the largest reduction to a five-year fixed rate at 60% LTV, now at 5.44% with no fee.
Remortgage rates have fallen by up to 0.15% with a five-year fixed rate down to 5.49% with a £999 fee at 60% LTV, a two-year fix at 75% LTV reducing to 6.39% with no fee, and a fee-free three-year fix at 90% LTV down to 6.30%.
Nationwide is also reducing selected two, three and five-year fixed rates for existing customers moving home by up to 0.40%, while switcher and additional borrowing rates will reduce by up to 0.10%.
Henry Jordan, director of home at Nationwide Building Society, said: “As economic conditions continue to stabilise, we are able to make further cuts to our mortgage rates, building on the reductions we have made in recent weeks.”
