Nationwide will be reducing rates by up to 0.20 percentage points across selected two, three and five-year fixed rate products with the new rates effective from tomorrow, Thursday, 10 July.
The new rates include:
First-time buyers: reductions of up to 0.11% across two, and five-year fixed rate products up to 90% LTV, including:
- Two-year fixed rate at 85% LTV with a £1,499 fee1 is 4.13% (reduced by 0.06%)
- Five-year fixed rate at 85% LTV with a £999 fee is 4.19% (reduced by 0.10%)
- Five-year fixed rate at 90% LTV with no fee is 4.49% (reduced by 0.10%)
Remortgage: reductions of up to 0.11% across two, three and five-year fixed rate products up to 90% LTV, including:
- Two-year fixed rate at 80% LTV with a £999 fee is 4.44% (reduced by 0.05%)
- Three-year fixed rate at 85% LTV with no fee is 4.60% (reduced by 0.10%)
- Five-year fixed rate at 85% LTV with a £999 fee is 4.24% (reduced by 0.09%)
Switcher: Nationwide is also reducing selected two, three and five-year switcher rates up to 95% LTV by up to 0.20%, with rates starting from 3.84%.
Additional borrowing rates are being cut by up to 0.14% on two, three and five-year fixed products up to 90% LTV, with rates starting from 3.84%.
Existing customers moving home: Borrowers will continue to receive rates the same or lower than the equivalent rates available for new customers moving home.
Carlo Pileggi, Nationwide’s Senior Manager – Mortgages, said: “We’re making further cuts across selected products from our fixed mortgage range to ensure that Nationwide continues to be front of mind for those looking to buy their first home, move to their next or who want to switch to a new deal. These latest cuts will particularly help first-time buyers and our existing members switching to new deals.”
