Nationwide Building Society has announced a reduction in its fixed mortgage products by up to 0.40%, effective from Wednesday, 23rd August. The cuts apply across a range of offerings, encompassing different customer needs.
For new customers moving home, there will be reductions of up to 0.40% across selected 2-year, 3-year, and 5-year fixed products up to 95% LTV. This includes a 5-year fixed rate at 60% LTV with no fee now at 5.39% (reduced by 0.40%), a 3-year fixed rate at 75% LTV with a £999 fee now at 5.89% (reduced by 0.10%), and a 2-year fixed rate at 60% LTV with a £999 fee now at 5.94% (reduced by 0.20%).
First-time buyers can benefit from reductions of up to 0.35% across selected 2-year, 3-year, and 5-year fixed products up to 95% LTV, including a 5-year fixed rate at 60% LTV with no fee now at 5.44% (reduced by 0.35%), a 2-year fixed rate at 75% LTV with a £999 fee now at 6.04% (reduced by 0.25%), and a 3-year fixed rate at 60% LTV with a £999 fee now at 5.94% (reduced by 0.19%).
For remortgage clients, there are reductions of up to 0.15% across selected 2-year, 3-year, and 5-year fixed products up to 90% LTV, including a 5-year fixed rate at 60% LTV with a £999 fee now at 5.49% (reduced by 0.15%), a 2-year fixed rate at 75% LTV with no fee now at 6.39% (reduced by 0.15%), and a 3-year fixed rate at 90% LTV with no fee now at 6.30% (reduced by 0.04%).
Furthermore, Nationwide is also reducing selected 2-year, 3-year, and 5-year fixed rates for existing customers moving home by up to 0.40%. While switcher and additional borrowing rates will reduce by up to 0.10%.
Henry Jordan, director of home at Nationwide Building Society, said: “As economic conditions continue to stabilise, we are able to make further cuts to our mortgage rates, building on the reductions we have made in recent weeks.”
