"Continued market stability and the downward trend in swap rates have meant we’ve been able to make further rate reductions on a large number of products across our mortgage range."
Nationwide Building Society has reduced selected two, three and five-year fixed and two-year tracker mortgage rates by up to 0.30%.
Remortgage products have reduced by up to 0.26% with the largest reductions to five-year fixed rates, which now start from 4.93% at 60% LTV and 4.98% up to 75% LTV. A two-year fix at 85% LTV has reduced by 0.15% to 5.59 and a two-year tracker at 80% LTV has fallen by 0.15% to 3.94%.
For new customers moving home, Nationwide has made reductions of up to 0.25% on selected fixed and tracker products up to 95%. Five-year fixed rates now start from 4.99% at 60% LTV and 5.24% at 90% LTV. A two-year fix at 75% LTV has reduced by 0.25% to 5.39% and a two-year tracker at 60% LTV has been cut by 20bps to 3.49%.
First-time buyer rates have reduced by up to 0.30% with the largest cut to a two-year tracker at 85% LTV, now available at 3.94%. Five-year fixed rates have reduced by 0.15% to 5.29% at 90% LTV and by 0.20% to 5.04% at 60% LTV.
All the above products come with a £999 fee.
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.25%, while shared equity rates are being reduced by 0.20%.
Nationwide’s first-time buyer mortgages also come with £500 cashback, while those looking to remortgage to the Society can choose between £500 cashback or free standard legal fees.
Henry Jordan, director of mortgages at Nationwide Building Society, said: “Continued market stability and the downward trend in swap rates have meant we’ve been able to make further rate reductions on a large number of products across our mortgage range.
“These changes now mean the Society has selected remortgage and house purchase products with rates below five per cent as we continue to support all types of borrowers, whether moving home or looking for a new deal.”
