Nationwide Building Society is reducing rates across the majority of its fixed rate mortgage products by up to 0.31 percentage points, with the new rates effective from tomorrow, Friday 22 September 2023.
These latest reductions mean Nationwide now offers sub-five per cent rates on its residential range with five and ten-year rates for first-time buyers and home movers starting at 4.94%. Nationwide is also now offering two-year fixed rates below 5.5% with rates for home movers starting from 5.44%.
New customers moving home: reductions of up to 0.30% across two, three, five and ten-year fixed rate products up to 95% LTV, including:
- Five-year fixed rate at 75% LTV with a £999 fee is 4.94% (reduced by 0.25%)
- Five-year fixed rate at 90% LTV with a £999 fee is 5.40% (reduced by 0.25%)
- Two-year fixed rate at 60% LTV with a £999 fee is 5.44% (reduced by 0.30%)
First-time buyers: reductions of up to 0.31% across two, three, five and ten-year fixed rate products up to 95% LTV, including:
- Five-year fixed rate at 75% LTV with a £999 fee is 4.94% (reduced by 0.31%)
- Five-year fixed rate at 90% LTV with a £999 fee is 5.38% (reduced by 0.26%)
- Two-year fixed rate at 75% LTV with a £999 fee is 5.65% (reduced by 0.29%)
Remortgage: reductions of up to 0.26% across two, three, five and ten-year fixed rate products up to 90% LTV, including:
- Five-year fixed rate at 80% LTV with a £999 fee is now 5.39% (reduced by 0.26%)
- Five-year fixed rate at 60% LTV with a £999 fee is now 5.20% (reduced by 0.20%)
- Two-year fixed rate at 75% LTV with a £999 fee is now 5.75% (reduced by 0.14%)
Nationwide is also reducing rates across its switcher range by up to 0.30%, with rates starting from 4.94% on five-year fixed products. These latest changes also continue Nationwide’s existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.
Nationwide is reducing additional borrowing and rates for existing customers moving home by up to 0.30%.
Full details of all rates included in these latest changes can be found here.
Henry Jordan, Director of Home at Nationwide Building Society, said: “The fall in swap rates over recent weeks and following the announcement that Bank Rate is being held at its current level means that we are able to make further rate cuts across the majority of our fixed rate mortgage range. These latest changes mean we’re now offering sub-five per cent rates to borrowers whether they are buying their first home or moving to their next.”
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