On Thursday 4 November, Nationwide will be increasing rates on selected two, three and five-year fixed rate products up to 80% Loan-to-Value (LTV) by up to 0.35%.
The new fixed rates include:
- First-time buyers: increases of up to 0.35% on selected products at LTVs up to 80%. This includes:
- Five-year fixed rate at 60% LTV increased by 0.10% to 1.34%, with a £999 fee.
- Two-year fixed rate at 75% LTV increased by 0.35% to 1.84%, with no product fee.
- New customers moving home: increases of up to 0.30% on selected products at 60% and 75% LTV. This includes:
- Five-year fixed rate at 60% LTV increased by 0.10% to 1.29%, with a £999 fee.
- Two-year fixed rate at 75% LTV increased by 0.25% to 1.59%, with no product fee.
- Remortgage: increases of up to 0.30% on selected products at LTVs up to 80%. This includes:
- Five-year fixed rate at 60% LTV increased by 0.10% to 1.34% with a £999 fee.
- Two-year fixed rate at 75% LTV increased by 0.30% to 1.69% with no product fee.
The Society is increasing shared equity rates by up to 0.35% on selected two and five-year fixed rates between 60% and 75% LTV.
For the Society’s existing members moving home, Nationwide is increasing rates by up to 0.30% on selected two, three and five-year fixed rate products at 60% and 75% LTV.
At the same time, the Society is also temporarily withdrawing its residential tracker mortgages.
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: “We regularly review the rates we offer across our mortgage range and these latest changes are reflective of the current wider environment. With swap rates remaining high and continuing to edge up, our new rates follow similar changes recently made across the mortgage market.
“As mutual, our core purpose is to help people get a home of their own and despite these increases, we remain one of the most competitive lenders in the market.”
