Nationwide cuts rates across mortgage range with lowest rate now 3.64%

Nationwide will be cutting rates by up to 0.25 percentage points on two, three, five and 10-year fixed rate products across its mortgage range. The new rates will be effective from tomorrow, Wednesday 5 November.

Nationwide’s lowest rate now stands at a market-leading 3.64% and is available to new and existing customers looking to move home and taking out a two-year fixed rate product at 60% Loan-to-Value (LTV) with a £1,499 fee.¹

The new rates include:

Existing and new customers moving home: reductions of up to 0.24% across two, three, five and 10-year fixed rate products up to 95% LTV, including:

• Two-year fixed rate at 60% LTV with a £1,499 fee¹ is 3.64% (reduced by 0.16%)
• Three-year fixed rate at 60% LTV with a £999 fee is 3.75% (reduced by 0.24%)
• Five-year fixed rate at 60% LTV with a £999 fee is 3.89% (reduced by 0.10%)
• Two-year fixed rate at 85% LTV with a £999 fee is 3.99% (reduced by 0.13%)

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 0.25% across two, three, five and 10-year fixed rate products up to 95% LTV, including:

• Two-year fixed rate at 60% LTV with a £1,499 fee¹ is 3.79% (reduced by 0.15%)
• Two-year fixed rate at 80% LTV with a £999 fee is 4.19% (reduced by 0.25%)
• Five-year fixed rate at 60% LTV with a £999 fee is 3.89% (reduced by 0.15%)

Switcher (for existing Nationwide customers coming to the end of their current mortgage deal): reductions of up to 0.25% across two, three, five and 10-year fixed rate products up to 95% LTV, including:

• Two-year fixed rate at 60% LTV with a £999 fee is 3.79% (reduced by 0.10%)
• Five-year fixed rate at 60% LTV with a £999 fee is 3.84% (reduced by 0.10%)
• Two-year fixed rate at 90% LTV with no fee is 4.79% (reduced by 0.25%)

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.

First-time buyers: reductions of up to 0.17% across two, three, five and 10-year fixed rate products up to 95% LTV, including:

• Two-year fixed rate at 60% LTV with a £1,499 fee¹ is 3.89% (reduced by 0.10%)
• Two-year fixed rate at 75% LTV with a £999 fee is 3.99% (reduced by 0.10%)
• Two-year fixed rate at 85% LTV with no fee is 4.34% (reduced by 0.17%)
• Five-year fixed rate at 90% LTV with a £999 fee is 4.35% (reduced by 0.10%)

Carlo Pileggi, Nationwide’s Head of Mortgage Products, said: “We’re making rate cuts across the majority of our fixed rate mortgage range with a number of sub-4% products and a market-leading rate for home movers. These changes will put Nationwide firmly on the radar for all borrower types as we aim to position the country’s largest building society as one of the most competitively priced lenders in the market."

These rate reductions follow on from the enhancements that Nationwide made on Monday to its Interest Only offering: Nationwide enhances Interest Only offering.

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