Nationwide will be cutting rates across its fixed mortgage range, supporting first-time buyers, home movers and people remortgaging. The new rates are effective from tomorrow, Tuesday 16 June.
These latest changes will see rates reduced by up to 0.28 percentage points across two, three, five and ten-year fixed rate products. This now means Nationwide’s lowest rate stands at 4.29%.
The new rates include:
First-time buyers: reductions of up to 0.20% across two, three and five-year fixed rate products up to 95% LTV, including:
- Five-year fixed rate at 90% LTV with no fee is 4.89% (reduced by 0.20%)
- Five-year fixed rate at 60% LTV with a £1,499 fee is 4.62% (reduced by 0.12%)
- Five-year fixed rate at 85% LTV with a £999 fee is 4.67% (reduced by 0.12%)
- Three-year fixed rate at 85% LTV with a £999 fee is 4.89% (reduced by 0.10%)
These follow on from the cuts that Nationwide made last week to its switcher mortgage range for existing customers who are coming to the end of their current mortgage deal. These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same as or lower than the remortgage equivalents.
Existing and new customers moving home: reductions of up to 0.17% across two, three, five and ten-year fixed rate products up to 95% LTV, including:
- Two-year fixed rate at 90% LTV with no fee is 4.99% (reduced by 0.17%)
- Two-year fixed rate at 60% LTV with a £1,499 fee is 4.29% (reduced by 0.06%)
- Five-year fixed rate at 80% LTV with a £999 fee is 4.59% (reduced by 0.10%)
- Five-year fixed rate at 90% LTV with a £999 fee is 4.74% (reduced by 0.10%)
The latest changes again demonstrate how Nationwide continues to offer existing customers who are moving home the same or lower rate than the equivalent rates available for new customers.
Carlo Pileggi, Nationwide’s Head of Mortgage Products, said: “We’re delighted to be cutting rates again as we look to put Nationwide at the forefront of borrowers’ minds. These changes will support first-time buyers and home movers, as well as provide competitive options for those looking to remortgage. Following the rate cuts last week to our switcher range for existing customers, this underlines our role as an all-round lender focused on supporting borrowers across the housing market.”
