"We’re making cuts across the majority of our fixed rate mortgage range to support all buyer types across the housing market."
- Henry Jordan, Nationwide’s Director of Home
Nationwide is reducing rates by up to 0.26% across its two, three, five and ten-year fixed rate products, with its lowest rate now at 3.78%.
Earlier today, HSBC launched a 3.81% five-year fix, but Nationwide's five-year product, which is available at 60% LTV with a £1,499 fee to new and existing customers moving home, is now the lowest rate available on the market.
Available from tomorrow, other products for borrowers moving home include five-year fixed rates from 3.83% at 60% LTV with a £999 fee, and 4.09% at 75% LTV with no fee. A two-year fix at 60% LTV has reduced to 4.15% with a £999 fee.
First-time buyer rates have reduced by up to 0.25%, with the largest reduction to a two-year fix at 60% LTV, now at 4.74% with no fee. Five-year fixed rates now start from 3.99% at 60% LTV with a £1,499 fee and from 4.64% at 90% LTV with a £999 fee.
Remortgage rates are also down by up to 0.25%, with a three-year fix at 75% LTV seeing the largest reduction to 4.65% with no fee. Nationwide has also launched a sub-4% remortgage rate, with a five-year fixed rate at 60% LTV down to 3.99% with a £999 fee.
The Society is also reducing selected two, three and five-year switcher rates up to 95% LTV by up to 0.25% with rates starting from 3.94%. This continues the lender's existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
Additional borrowing rates are also being cut by up to 0.20% on two, three and five-year fixed products up to 90% LTV, with rates starting from 3.94%.
Henry Jordan, Nationwide’s Director of Home, said: “We’re making cuts across the majority of our fixed rate mortgage range to support all buyer types across the housing market.”
