Nationwide will again be cutting rates across its fixed rate mortgage range with the new rates effective from tomorrow, Friday 5 December. These latest changes will see rates reduced by up to 0.21 percentage points across two, three and five-year products and will benefit first-time buyers as well as those moving home or looking for a new mortgage deal.
Nationwide’s lowest rate1 now stands at 3.58% and it is the first time that Nationwide has offered a fixed mortgage rate lower than 3.60% since September 2022.
The new rates include:
First-time buyers: reductions of up to 0.21% across two, three and five-year fixed rate products up to 95% LTV, including:
- Two-year fixed rate at 85% LTV with a £999 fee is 3.92% (reduced by 0.16%)
- Two-year fixed rate at 95% LTV with no fee is 4.68% (reduced by 0.21%)
- Five-year fixed rate at 95% LTV with a £999 fee is 4.78% (reduced by 0.11%)
First-time buyers also receive £500 cashback when they complete their mortgage with Nationwide.
Existing and new customers moving home: reductions of up to 0.13% 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 3.58% (reduced by 0.02%)
- Two-year fixed rate at 75% LTV with a £999 fee is 3.67% (reduced by 0.12%)
- Two-year fixed rate at 85% LTV with a £999 fee is 3.81% (reduced by 0.13%)
- Five-year fixed rate at 60% LTV with a £999 fee is 3.80% (reduced by 0.04%)
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.
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
Switcher (for existing Nationwide customers coming to the end of their current mortgage deal): reductions of up to 0.10% across two, three and five-year fixed rate products up to 90% LTV, including:
- Two-year fixed rate at 60% LTV with a £999 fee is 3.65% (reduced by 0.07%)
- Five-year fixed rate at 60% LTV with a £999 fee is 3.74% (reduced by 0.10%)
- Three-year fixed rate at 75% LTV with a £999 fee is 3.93% (reduced by 0.06%)
Remortgage: reductions of up to 0.14% 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 3.65% (reduced by 0.07%)
- Five-year fixed rate at 60% LTV with a £999 fee is 3.79% (reduced by 0.10%)
- Three-year fixed rate at 85% LTV with no fee is 4.35% (reduced by 0.14%)
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.
Carlo Pileggi, Nationwide’s Head of Mortgage Products, said: “We’re making cuts across our fixed rate mortgage range with even more of our rates now below four per cent. These latest changes, which follow hot on the heels of the wide-ranging rate cuts we made at the end of last week, demonstrate that Nationwide remains focused on offering competitive rates to first-time buyers, home movers and those looking for a new deal.”
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