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Existing customer variable & tracker interest rate mortgages

You can find two different types of variable rate mortgages with Nationwide – our tracker mortgage deals and our Base Mortgage Rate (BMR). The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period. With both you get great rates and plenty of flexibility to run your mortgage the way you want.

Our tracker mortgage range:

  • Your interest rate tracks the Bank of England base rate, currently 3.0%†.
  • At the end of the initial period you move to our variable Base Mortgage Rate (BMR) for the remainder of the mortgage term.
  • No extended tie-in after the tracker period.
  • Switch and fix facility.

Our Base Mortgage Rate (BMR):

  • The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.
  • Our most flexible mortgage – with overpayments, underpayments and much more.
  • Nationwide's Base Mortgage Rate (BMR) deal offers some of the most competitive rates on the market.
  • No Reservation Fee.

Minimum deposit of 40%

2 Year Tracker+
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Base rate differential Initial rate Followed by the BMR, currently The overall cost for comparison is Reservation fee*
+1.99% 4.99% 4.69% 5.0% APR £995

Minimum deposit of 25%

2 Year Tracker+
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Base rate differential Initial rate Followed by the BMR, currently The overall cost for comparison is Reservation fee*
+2.19% 5.19% 4.69% 5.1% APR £995

† If the Bank of England Base rate is 1% or less during the tracker period, the rate you pay will be 1% plus the agreed set percentage above the Bank of England base rate. This means that the rate you pay will never go below 1% plus the additional percentage rate of your tracker mortgage. This is known as the tracker floor.

Borrowing limits apply. Please ask for details.

FAQs

  • What is a variable rate mortgage?

    You can find two different types of variable rate mortgages with Nationwide – our tracker mortgage deals and our Base Mortgage Rate (BMR). The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period. With both you get great rates and plenty of flexibility to run your mortgage the way you want.

    Our tracker mortgage range:

    • Your interest rate tracks the Bank of England base rate, currently 3.0%†.
    • At the end of the initial period you move to our variable Base Mortgage Rate (BMR) for the remainder of the mortgage term.
    • No extended tie-in after the tracker period.
    • Switch and fix facility.

    Our Base Mortgage Rate:

    • The BMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.
    • Our most flexible mortgage – with overpayments, underpayments and much more.
    • Nationwide's BMR deal offers some of the lowest rates on the market.
    • Guaranteed not to be more than 2% above Bank of England base rate.
    • No Reservation Fee.
  • Is a variable mortgage right for you?

    With a Base Mortgage Rate (BMR) deal, the interest you are charged will change according to market conditions or the Bank of England's base rate. This means that if rates fall, your payments could go down. However, if interest rates rise – then so do your repayments.

    If you're happy to take the risk, then it could be the right deal for you.

    However, if you would rather know exactly how much money you'll be charged each month (for example if you're on a tight budget) then a fixed rate deal might be a better option for you.

    You can apply online now for a tracker mortgage deal

Next steps: Flexible Features or Quote and apply