Nationwide reduces switcher mortgage rates

Effective from tomorrow, Friday 1 December, Nationwide Building Society will be reducing switcher rates by up to 0.31% across its 2-, 3- and 5-year fixed rate products up to 95% loan-to-value (LTV).

The new rates include a 2-year fixed rate at 60% LTV with a £999 fee is 4.82% (reduced by 0.17%) and a 3-year fixed rate at 75% LTV with a £999 fee is 4.89% (reduced by 0.31%).

A 5-year fixed rate at 95% LTV with a £999 fee is 5.30% (reduced by 0.30%) will also be available.

Nationwide is also reducing additional borrowing rates by up to 0.31%.

Henry Jordan, director of home at Nationwide Building Society, said: “These latest changes continue our existing mortgage customer pricing pledge, which promises that switcher product rates will be the same or lower than the remortgage equivalents.

“This is the tenth reduction in rates we have made in four months and means we continue to offer some of the most competitive rates on the market.”