Nationwide cuts mortgage rates by up to 0.40%

Nationwide Building Society is reducing rates on its fixed mortgage products by up to 0.40 percentage points. The new rates are effective from today, Wednesday 23 August.

New customers moving home: reductions of up to 0.40% across selected two, three and five-year fixed products up to 95% LTV, including: 

• Five-year fixed rate at 60% LTV with no fee is now 5.39% (reduced by 0.40%)
• Three-year fixed rate at 75% LTV with a £999 fee is now 5.89% (reduced by 0.10%)
• Two-year fixed rate at 60% LTV with a £999 fee is now 5.94% (reduced by 0.20%)

First-time buyers: reductions of up to 0.35% across selected two, three and five-year fixed products up to 95% LTV, including: 

• Five-year fixed rate at 60% LTV with no fee is now 5.44% (reduced by 0.35%)
• Two-year fixed rate at 75% LTV with a £999 fee is now 6.04% (reduced by 0.25%)
• Three-year fixed rate at 60% LTV with a £999 fee is now 5.94% (reduced by 0.19%)

Remortgage: reductions of up to 0.15% across selected two, three and five-year fixed products up to 90% LTV, including: 

• Five-year fixed rate at 60% LTV with a £999 fee is now 5.49% (reduced by 0.15%)
• Two-year fixed rate at 75% LTV with no fee is now 6.39% (reduced by 0.15%)
• Three-year fixed rate at 90% LTV with no fee is now 6.30% (reduced by 0.04%)

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%.

Full details of all rates included in these latest changes can be found here.

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.”