Nationwide Building Society is reducing rates on Wednesday 18 August on selected mortgages across its range by up to 0.20 percentage points in further support to first-time buyers and home movers with small deposits.
The new rates include:
- First-time buyers: reductions of up to 0.20% across two and five-year fixed rate products between 80% and 95% Loan-to-Value (LTV). This includes:
- Two-year fixed rate at 90% LTV reduced by 0.20% to 2.24%, with a £999 fee.
- Two-year fixed rate at 95% LTV reduced by 0.15% to 3.39%, with no product fee.
- Five-year fixed rate at 95% LTV reduced by 0.20% to 3.39%, with a £999 fee.
- New customers moving home: reductions of up to 0.20% across two and five-year fixed rate products between 80% and 95% LTV. This includes:
- Two-year fixed rate at 90% LTV reduced by 0.16% to 2.18%, with a £999 fee.
- Five-year fixed rate at 90% LTV reduced by 0.15% to 2.79%, with a £999 fee.
- Five-year fixed rate at 95% LTV reduced by 0.20% to 3.39%, with a £999 fee.
- Remortgage: reductions of up to 0.20% across selected two, five and ten-year fixed rate products at 80% and 85% LTV. This includes:
- Five-year fixed rate at 85% LTV reduced by 0.20% to 2.34% with a £999 fee.
- Two-year fixed rate at 85% LTV reduced by 0.15% to 2.29% with no product fee.
Nationwide is also introducing market-leading rates for home movers and first-time buyers looking to purchase through shared equity. The Society is reducing rates by up to 0.34% on selected two and five-year fixed rates between 60% and 80% LTV. Rates start from 1.20% for two-year fixed mortgages and 1.30% for the five-year fixed products.
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.20% on selected two and five-year products between 80% and 95% LTV.
Nationwide is also reducing selected further advance, family deposit mortgage and switcher rates between 60% and 95% LTV by up to 0.20%.
Full details of all rates included in these latest changes can be found here.
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.
Henry Jordan, Nationwide’s Director of Mortgages, said: “Nationwide remains as committed as ever to helping people move into their first home or onto their next. We are making these rate cuts to ensure we continue to be one of the most competitive lenders around at a time when demand remains high.
“These latest changes further enhance the Society’s products aimed at those with smaller deposits, and alongside our £500 cashback and Helping Hand mortgage that supports borrowers in meeting affordability requirements, mean Nationwide continues to offer a compelling proposition for first-time buyers.”
