Nationwide Building Society is reducing fixed rates across its mortgage range by up to 0.75 percentage points, effective from tomorrow, Wednesday 8th February.
For first-time buyers, the Society is introducing reductions of up to 0.75% across 2-, 3-, 5- and 10-year fixed rate products up to 95% loan-to-value (LTV) including a 2-year fixed rate at 60% LTV with a £999 fee now 4.74% (reduced by 0.05%), and a 3-year fixed rate at 60% LTV with a £999 fee now 4.74% (reduced by 0.05%).
For remortgage customers, there will be reductions of up to 0.75% across 2-, 3-, 5- and 10-year fixed rate products up to 90% LTV, including a 5-year fixed rate at 85% LTV with a £999 fee now 4.49% (reduced by 0.15%), and a 10-year fixed rate at 75% LTV with a £999 fee now 4.34% (reduced by 0.75%).
Henry Jordan, director of mortgages at Nationwide Building Society, said: “We have made a number of rate reductions on our fixed rates since the start of the year and these cuts will make sure our entire range remains competitive for all types of borrowers.
“We also continue to ensure that we are maintaining our existing mortgage member pricing pledge where our switcher rates are the same or lower than remortgage equivalents.”
Additionally, for new customers moving home, Nationwide is introducing reductions of up to 0.75% across 2-, 3-, 5- and 10-year fixed rate products up to 95% LTV.
For the Society’s existing members moving home, Nationwide is reducing fixed rates by up to 0.75% on 2-, 3-, 5- and 10-year fixed rate products up to 95% LTV.
Fixed rate shared equity rates up to 80% LTV are also being reduced by up to 0.05%.
Nationwide is also reducing rates on selected fixed rate switcher products by up to 0.30%.
This continues the Society’s existing mortgage member pricing pledge, meaning Nationwide’s switcher product rates will be the same or lower than remortgage equivalents.
For those looking to borrow more, Nationwide is also reducing selected 2-, 3-, 5- and 10-year fixed rates on its additional borrowing range by up to 0.20%, while the rate on Green Additional Borrowing is also being reduced by 0.16% to 4.18%.
Following the recent increase in Bank Rate, two-year tracker rates will also increase by up to 0.50%.
