Finance

Nationwide reduces mortgage rates by up to 30 bps

Mortgages

The largest cut is to a two-year fixed rate at 60% LTV, down to 4.59% with a £1,499 fee

Nationwide Building Society is lowering selected mortgage rates by up to 30 basis points, with rates now starting from 4.18%.

Available from tomorrow, new customers moving home will see cuts of up to 0.20% across two, three and five-year fixed rate products up to 85% LTV. The biggest cut is to a two-year fixed rate at 60% loan-to-value, down to 4.59% with a £1,499 fee. Five-year fixed rates are dropping to 4.18% at 60% loan-to-value with a £1,499 fee and to 4.45% at 75% loan-to-value with a £999 fee.

FTB rates are dropping by up to 0.09% across two and three-year fixed rate products up to 85% LTV.

Additionally, remortgage rates are down by up to 0.30% on two, three and five-year fixed rate products up to 90% loan-to-value, with the biggest cut to a five-year fix at 80% loan-to-value, down to 4.94% with a £1,499 fee.

Nationwide is also lowering selected two, three, and five-year switcher rates at up to 95% LTV by up to 0.16% with rates starting from 4.34%. These latest changes continue Nationwide’s current mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.

Nationwide is lowering rates for current customers moving home by up to 0.20%, with rates now starting from 4.18%. Rates for additional borrowing will be lowered by 0.16% and will now start from 4.34%. It is also removing all fees from further advance products.

Henry Jordan, Director of Home at Nationwide Building Society, said: As one of the UK’s biggest lenders, we remain as committed as ever to supporting borrowers. These reductions will ensure that we have some of the most competitive rates on the market for all types of borrowers whether it be FTBs, home movers or those looking to remortgage or switch deals.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Invest for Property. The information provided on Invest for Property is intended for informational purposes only. Invest for Property is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

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