10 Nov 2022

Nationwide cuts mortgage rates by up to 0.70%

From tomorrow, Friday 11 November, Nationwide Building Society will reduce selected two, three, five and ten-year fixed and two-year tracker products by up to 0.70 per cent across all LTVs.

The new rates include: 

First-time buyers and remortgage: reductions of up to 0.70%, including:

    • Two-year fixed rate at 60% LTV reduced by 0.35% to 5.54%, with a £999 fee.
    • Three-year fixed rate at 95% LTV reduced by 0.70% to 5.99%, with no fee.
    • Five-year fixed rate at 80% LTV reduced by 0.10% to 5.29%, with a £999 fee.
    • Ten-year fixed rate at 95% LTV reduced by 0.20% to 5.89%, with a £999 fee.
    • Two-year tracker rate at 60% LTV reduced by 0.35% to 3.69%, with a £999 fee.
    • Remortgage: reductions of up to 0.40%, including:
    • Two-year fixed rate at 60% LTV reduced by 0.30% to 5.54%, with a £999 fee.
    • Three-year fixed rate at 90% LTV reduced by 0.40% to 5.99%, with no fee.
    • Five-year fixed rate at 80% LTV reduced by 0.10% to 5.29%, with a £999 fee.
    • Two-year tracker rate at 60% LTV reduced by 0.30% to 3.69%, with a £999 fee.
    New customers moving home: reductions of up to 0.55%, including:
    • Two-year fixed rate at 60% LTV reduced by 0.35% to 5.54%, with a £999 fee.
    • Three-year fixed rate at 95% LTV reduced by 0.55% to 5.99%, with no fee.
    • Five-year fixed rate at 80% LTV reduced by 0.10% to 5.29%, with a £999 fee.
    • Ten-year fixed rate at 95% LTV reduced by 0.15% to 5.89%, with a £999 fee.
    • Two-year tracker rate at 60% LTV reduced by 0.25% to 3.69%, with a £999 fee.

For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.55% while shared equity rates are being reduced by 0.35%. 

Nationwide’s first-time buyer mortgages also come with £500 cashback, while those looking to remortgage to the Society can choose between £500 cashback or free standard legal fees. 

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

Henry Jordan, Nationwide’s Director of Mortgages, said: “Following recent uncertainty, markets have stabilised and swap rates have continued to fall. This allowed us to cut rates for existing mortgage members switching at deal maturity earlier this month and we are now reducing new lending. These changes apply across our mortgage range, but the largest reductions have been made on higher loan to value mortgages, which will benefit first-time buyers looking to get onto the property ladder.”