Nationwide will be cutting rates across its fixed mortgage range, with the new rates effective from tomorrow, Friday 13 February.
These latest changes, which will benefit first-time buyers, home movers and those looking to remortgage or switch their deal, will see rates reduced by up to 0.16 percentage points across two, three and five-year fixed rate products. This now means Nationwide’s lowest rate now stands at 3.54%.
The new rates include:
First-time buyers: reductions of up to 0.16% across two, three and five-year fixed rate products up to 95% LTV, including:
- Three-year fixed rate at 90% LTV with a £999 fee is 4.40% (reduced by 0.16%)
- Two-year fixed rate at 90% LTV with a £999 fee is 4.10% (reduced by 0.14%)
- Two-year fixed rate at 60% LTV with a £1,499 fee is 3.67% (reduced by 0.15%)
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: reductions of up to 0.15% across two, three and five-year fixed rate products up to 95% LTV, including:
- Two-year fixed rate at 60% LTV with a £1,499 fee is 3.54% (reduced by 0.15%)
- Five-year fixed rate at 85% LTV with a £1,499 fee is 3.94% (reduced by 0.15%)
- Two-year fixed rate at 85% LTV with a £999 fee is 3.78% (reduced by 0.09%)
The latest changes again demonstrate how Nationwide continues to offer existing customers who are moving home the same or lower rate than the equivalent rates available for new customers.
Remortgage: reductions of up to 0.15% across two, three and five-year fixed rate products up to 90% LTV, including:
- Three-year fixed rate at 60% LTV with a £999 fee is 3.80% (reduced by 0.15%)
- Five-year fixed rate at 80% LTV with a £999 fee is 4.04% (reduced by 0.10%)
Switcher (for existing Nationwide customers coming to the end of their current mortgage deal): reductions of up to 0.11% across two, three and five-year fixed rate products up to 90% LTV, including:
- Three-year fixed rate at 80% LTV with a £999 fee is 4.05% (reduced by 0.11%)
- Five-year fixed rate at 80% LTV with a £999 fee is 3.99% (reduced by 0.06%)
These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
Carlo Pileggi, Nationwide’s Head of Mortgage Products, said: “We review our mortgage rates on an ongoing basis to ensure they are sustainable and competitive for customers. These latest rate cuts are great news for first‑time buyers and home movers, who will see the biggest benefit.”