27 Jul 2023

Nationwide cuts rates on switcher mortgage range

Nationwide Building Society is reducing rates on its switcher mortgage products by up to 0.35 percentage points. Switcher products are available to Nationwide mortgage members coming to the end of their existing deal and looking for a new one.

Switcher: reductions of up to 0.35% across selected two, three and five-year fixed products and of up to 0.20% on two-year tracker products, including:

  • Five-year fixed rate at 60% LTV with a £999 fee is now 5.24% (reduced by 0.25%)
  • Two-year fixed rate at 60% LTV without a fee is now 5.99% (reduced by 0.35%)
  • Two-year fixed rate at 60% LTV with a £999 fee is now 5.79% (reduced by 0.30%)
  • Five-year fixed rate at 80% LTV with a £999 fee is now 5.29% (reduced by 0.20%)
  • Two-year tracker rate at 85% LTV with a £999 fee is now 5.34% (reduced by 0.10%)

These latest changes continue the Society’s existing mortgage member pricing pledge, meaning Nationwide’s switcher products will be the same or lower than remortgage equivalents.

For those looking to borrow more, Nationwide is also reducing selected two, three, five-year fixed rates on its additional borrowing range by up to 0.35%.

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

Henry Jordan, Director of Home at Nationwide Building Society, said: “With swap rates having fallen slightly in recent weeks, we have been able to reduce rates on our switcher range. These reductions demonstrate our continued efforts to support existing members who are coming to the end of their current deal. The new rates also reinforce our existing mortgage member pricing pledge whereby our switcher rates are the same or lower than our remortgage equivalents.”