Nationwide is set to cut mortgage rates with the latest changes seeing switcher and remortgage rates reduced by up to 0.22%.
Rates on all 2-year tracker products will also be cut by 0.25% following the reduction to Bank Rate.
The new rates will be effective from today, Friday 9th May.
Nationwide’s lowest remortgage rate now stands at 3.84% and is available on both the 2- and 5-year fixed rate products at 60% loan-to-value (LTV) with a £1,499 fee.
Switcher rates for existing customers also start from 3.84%, but with a lower £999 fee.
In its remortgage range, the lender is introducing reductions of up to 0.22% across selected 2-, 3- and 5-year fixed rate products with rates starting from 3.84%.
These include a 2-year fixed rate at 60% loan-to-value (LTV) with a £1,499 fee at 3.84% (reduced by 0.10%), a 5-year fixed rate at 60% LTV with a £1,499 fee at 3.84% (reduced by 0.10%), a 3-year fixed rate at 90% LTV with a £999 fee at 4.89% (reduced by 0.22%), and a 2-year fixed rate at 75% LTV with no fee at 4.54% (reduced by 0.11%).
In its switcher range, for existing Nationwide customers coming to the end of their current mortgage deal, there is set to be reductions of up to 0.21% across selected 2-, 3- and 5-year fixed rate products with rates starting from 3.84%.
These include a 2-year fixed rate at 60% LTV with a £999 fee at 3.84% (reduced by 0.10%), a 5-year fixed rate at 60% LTV with a £999 fee at 3.84% (reduced by 0.10%), a 3-year fixed rate at 90% LTV with a £999 fee at 4.89% (reduced by 0.21%), and a 2-year fixed rate at 75% LTV with a £999 fee at 4.09% (reduced by 0.08%).
These changes follow on from rate cuts across Nationwide’s mortgage range on Wednesday 7th May.
Carlo Pileggi, Nationwide’s senior manager – mortgages, said: “Our fourth set of rate cuts in three weeks shows how we are working hard to support all types of borrowers.
“The changes we’re making tomorrow are aimed at ensuring we are well-positioned to support both new and existing customers who are currently looking for a new mortgage deal and follow the rate cuts made earlier this week which focused more on first-time buyers and home movers.”
