Nationwide will be cutting rates by up to 0.18 percentage points on selected two, three and five-year fixed rate products across its mortgage range, with its lowest rate now at 3.80%. The new rates will be effective from tomorrow, Friday 19 September and apply to new mortgage applications made from this date.
The rate cuts will further support first-time buyers as well as those looking to move to a new home.
The new rates include:
First-time buyers: reductions of up to 0.18% across two and three-year fixed rate products up to 95% LTV, including:
- Three-year fixed rate at 85% LTV with a £999 fee is 4.34% (reduced by 0.15%)
- Two-year fixed rate at 75% LTV with a £999 fee is 4.09% (reduced by 0.10%)
- Three-year fixed rate at 95% LTV with no fee is 5.21% (reduced by 0.18%)
- Two-year fixed rate at 60% LTV with a £1,499 fee1 is 3.99% (reduced by 0.04%)
Existing and new customers moving home: reductions of up to 0.16% across two, three and five-year fixed rate products up to 95% LTV, including:
- Two-year fixed rate at 90% LTV with no fee is 4.52% (reduced by 0.16%)
- Two-year fixed rate at 60% LTV with a £1,499 fee1 is 3.80% (reduced by 0.07%)
- Five-year fixed rate at 95% LTV with a £999 fee is 4.81% (reduced by 0.13%)
- Three-year fixed rate at 80% LTV with a £999 fee is 4.24% (reduced by 0.10%)
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.
Carlo Pileggi, Nationwide’s Senior Manager – Mortgages, said: “We regularly review our rates because it’s important that, as Britain’s biggest building society, we maintain a competitive position in the market. These latest changes will be particularly good news for those looking to move home, with rates now starting from 3.80%, and for first-time buyers as we make a wide range of cuts across those product ranges”.
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