High street lender Nationwide will lower selected mortgage rates by up to 0.2% across two-, three- and five-year fixed rates.
The updated mortgage rates from Nationwide will come into effect on 2 July, with first-time buyer, new and existing customer and remortgage deals.
For first-time buyers, cuts of up to 0.2% across two-, three- and five-year fixed rate products up to 90% loan to value (LTV) have been made.
This includes its two-year fixed rate at 60% LTV with a £1,499 fee, which will will be 3.94%, a reduction of 0.05%.
Nationwide’s three-year fixed mortgage rate at 75% LTV with a £999 fee will come to 4.2%, a fall of 0.14%.
The lender’s five-year fixed rate at 90% LTV with a £999 fee is 4.39%, a decrease of 0.1%.
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Within its new and existing customers moving home range, reductions of up to 0.2% across two-, three- and five-year fixed rate products up to 90% LTV have been made.
As an example, its two-year fixed rate at 60% LTV with a £1,499 fee will be 3.81% and its three-year fixed rate at 85% LTV with a £999 fee will come to 4.35%.
Nationwide’s five-year fixed mortgage rate at 90% LTV with a £1,499 fee is 4.34%, a reduction of 0.06%.
On the remortgage side, there are cuts of up to 0.1% across two-, three- and five-year fixed mortgage rate products up to 85% LTV, with rates starting from 3.89%.
For instance, its two-year fixed rate at 60% LTV with a £1,499 fee is 3.89%, its three-year fixed rate at 75% LTV with a £999 fee is 4.19% and its five-year fixed rate at 75% LTV with no fee is 4.22%.
Carlo Pileggi, Nationwide’s senior manager for mortgages, said: “These latest reductions will be welcome news for borrowers looking to buy their first home or move on to their next.
“We’re proud to support all areas of the market, whether it’s first-time buyers – through our Helping Hand boost, which enables eligible first-time buyers to borrow up to six times their income – homemovers or those looking for a new deal. With our reduced rates starting from 3.81%, we aim to be front of mind.”