Nationwide Building Society has announced a rate reduction on its fixed mortgage products, effective from Thursday, 9th November.
The reductions, which include cuts of up to 0.38%, position Nationwide as the first major high street lender to offer a 2-year fixed rate below 5% with a £999 fee.
Henry Jordan, director of home at Nationwide Building Society, said: “We’re making further rate cuts across our fixed rate mortgage range to ensure we continue to cement our position as one of the most competitive lenders in the market.”
Key rate reductions for new customers moving home include a 0.25% cut on 2- to 5-year fixed rate products up to 95% loan-to-value (LTV). For first-time buyers, the cuts are as much as 0.31% across similar products.
Nationwide is also adjusting rates for remortgaging customers, with reductions of up to 0.38%, and for existing members looking to switch, with cuts of up to 0.25%.
Jordan highlighted the society’s ongoing commitment: “Over the last three months, we have reduced rates eight times… as we look to maintain our support for potential and existing homeowners, as well as brokers, by offering attractively priced products.”
