Nationwide is again cutting mortgage rates with the latest changes seeing switcher and remortgage rates reduced by up to 0.22 percentage points. Rates on all two-year tracker products will also be cut by 0.25 percentage points following the reduction to Bank Rate. The new rates will be effective from tomorrow, Friday 9 May.
Nationwide’s lowest remortgage rate now stands at 3.84% and is available on both the two and five-year fixed rate products at 60% Loan-to-Value (LTV) with a £1,499 fee1.
Switcher rates for existing customers also start from 3.84%, but with a lower £999 fee.
The new rates include:
Remortgage: reductions of up to 0.22% across selected two, three and five-year fixed rate products with rates starting from 3.84%. These include:
- Two-year fixed rate at 60% LTV with a £1,499 fee1 is 3.84% (reduced by 0.10%)
- Five-year fixed rate at 60% LTV with a £1,499 fee1 is 3.84% (reduced by 0.10%)
- Three-year fixed rate at 90% LTV with a £999 fee is 4.89% (reduced by 0.22%)
- Two-year fixed rate at 75% LTV with no fee is 4.54% (reduced by 0.11%)
Switcher (for existing Nationwide customers coming to the end of their current mortgage deal): reductions of up to 0.21% across selected two, three and five-year fixed rate products with rates starting from 3.84%. These include:
- Two-year fixed rate at 60% LTV with a £999 fee is 3.84% (reduced by 0.10%)
- Five-year fixed rate at 60% LTV with a £999 fee is 3.84% (reduced by 0.10%)
- Three-year fixed rate at 90% LTV with a £999 fee is 4.89% (reduced by 0.21%)
- Two-year fixed rate at 75% LTV with a £999 fee is 4.09% (reduced by 0.08%)
These latest changes also continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
These changes follow on from rate cuts across Nationwide’s mortgage range on Wednesday (7 May).
Carlo Pileggi, Nationwide’s Senior Manager – Mortgages, said: “Our fourth set of rate cuts in three weeks shows how we are working hard to support all types of borrowers. The changes we’re making tomorrow are aimed at ensuring we are well-positioned to support both new and existing customers who are currently looking for a new mortgage deal and follow the rate cuts made earlier this week which focused more on first-time buyers and home movers.”
Full details on all rates can be found here.
