Nationwide will be cutting rates across its fixed mortgage range, supporting first-time buyers, home movers and people remortgaging. The new rates are effective from tomorrow, Tuesday 12 May.
These latest changes will see rates reduced by up to 0.36 percentage points across two, three and five-year fixed rate products. This now means Nationwide’s lowest rate1 now stands at 4.35%.
The new rates include:
First-time buyers: reductions of up to 0.36% across two, three and five-year fixed rate products up to 95% LTV, including:
- Five-year fixed rate at 90% LTV with a £999 fee is 4.89% (reduced by 0.36%)
- Five-year fixed rate at 85% LTV with a £999 fee is 4.79% (reduced by 0.34%)
- Two-year fixed rate at 85% LTV with a £999 fee is 4.69% (reduced by 0.26%)
- Two-year fixed rate at 60% LTV with a £1,499 fee2 is 4.48% (reduced by 0.18%)
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.3
Existing and new customers moving home: reductions of up to 0.24% 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 fee2 is 4.35% (reduced by 0.15%)
- Five-year fixed rate at 60% LTV with a £999 fee is 4.49% (reduced by 0.24%)
- Five-year fixed rate at 75% LTV with a £999 fee is 4.59% (reduced by 0.19%)
- Two-year fixed rate at 90% LTV with a £999 fee is 4.89% (reduced by 0.20%)
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 0.24% across two, three and five-year fixed rate products up to 90% LTV, including:
- Two-year fixed rate at 75% LTV with a £999 fee is 4.76% (reduced by 0.24%)
- Two-year fixed rate at 60% LTV with a £1,499 fee is 4.63% (reduced by 0.22%)
- Five-year fixed rate at 85% LTV with a £999 fee is 4.94% (reduced by 0.06%)
Carlo Pileggi, Nationwide’s Head of Mortgage Products, said: “We’re pleased to be cutting our mortgage rates once again, with the biggest reductions this time aimed at first-time buyers. 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.”
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