Existing and new customers moving home will see reductions of up to 24bps across two-, three-, and five-year fixed products up to 95% LTV. Selected new rates include the two-year fixed at 60% LTV with a £1,499 fee at 4.35% (down 15bps), the five-year fixed at 60% LTV with a £999 fee at 4.49% (down 24bps), the five-year fixed at 75% LTV with a £999 fee at 4.59% (down 19bps), and the two-year fixed at 90% LTV with a £999 fee at 4.89% (down 20bps).
Nationwide says existing customers who are moving home continue to be offered rates equal to or lower than those available to new customers.
Remortgage rates are being reduced by up to 24bps across two-, three-, and five-year fixed products up to 90% LTV. The two-year fixed at 75% LTV with a £999 fee will be 4.76% (down 24bps), the two-year fixed at 60% LTV with a £1,499 fee will be 4.63% (down 22bps), and the five-year fixed at 85% LTV with a £999 fee will be 4.94% (down 6bps).
“We’re pleased to be cutting our mortgage rates once again, with the biggest reductions this time aimed at first-time buyers,” said Carlo Pileggi, head of mortgage products at Nationwide. “Some of our biggest rate cuts are being made on our higher loan-to-value mortgages, which will help those with smaller deposits to take their first step on to the property ladder. However, Nationwide remains an all-round lender and these rate cuts reflect our broader aim of supporting customers at every stage of homeownership.”
As a result of the latest rate reductions, Nationwide’s lowest rate will fall to 4.35%.