Nationwide has confirmed rate cuts of up to 0.19 percentage points across its fixed rate mortgage range. The building society, which has branches in Birmingham, has confirmed selected tracker mortgage rate cuts by up to 0.12 percentage points.
First-time buyers, home movers and those looking for a new mortgage deal will benefit from these latest cuts. Nationwide, which is rivalled by Santander, HSBC UK, Lloyds, Barclays and more, says rates will be reduced by up to 0.19 percentage points across two, three, five and ten-year fixed rate products.
Rates will be cut by up to 0.12 percentage points on selected two-year tracker products. The new rates are effective from today, Tuesday 7 July, and will apply across first-time buyer, home mover, remortgage and switcher products, as Nationwide reinforces its position as an all-round lender supporting all borrowers.
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The new fixed rates include remortgage reductions of up to 0.19% across two, three, five and ten-year fixed rate products up to 95% LTV, and switcher (for existing Nationwide customers coming to the end of their current mortgage deal) reductions of up to 0.16% across two, three, five and ten-year fixed rate products up to 95% LTV.
These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same as or lower than the remortgage equivalents.
First-time buyers will see reductions of up to 0.19% across two, three, five and ten-year fixed rate products up to 95% LTV.
First-time buyers also receive £500 cashback when they complete their mortgage with Nationwide. First-time buyers and those moving home can also benefit from cashback of up to £500 if they purchase an energy-efficient property through Nationwide’s Green Reward.
Existing and new customers moving home will see reductions of up to 0.15% across two, three, five and ten-year fixed rate products up to 95% LTV.
Carlo Pileggi, Nationwide’s Head of Mortgage Products, said: “Another set of rate cuts across our mortgage range is further proof that Nationwide is an all-round lender committed to supporting all types of borrowers.
“The changes we’re making tomorrow will ensure we remain competitive and continue to be front of mind for brokers and customers alike in a fast-moving mortgage market.”