Nationwide will be cutting rates by up to 0.21% on selected 2-, 3- and 5-year fixed rate products across its mortgage range, with its lowest rate now at 3.74%.
The new rates will be effective from tomorrow, Wednesday 30th July.
The rate cuts will further support first-time buyers, those looking to move home as well as those looking for a new mortgage deal.
For first-time buyers, the lender is introducing reductions of up to 0.21% across 2- and 3year fixed rate products up to 90% loan-to-value (LTV), including a 3-year fixed rate at 90% LTV with no fee at 4.79%, a 2-year fixed rate at 90% LTV with a £999 fee at 4.33% and a 2-year fixed rate at 60% LTV with a £1,499 fee at 3.86%.
For new customers moving home, Nationwide will be making reductions of up to 0.18% across 2-, 3- and 5-year fixed rate products up to 95% LTV, including a 2-year fixed rate at 60% LTV with a £1,499 fee at 3.74% and a 5-year fixed rate at 85% LTV with a £999 fee at 4.09%.
Existing customers moving home with also benefit from reductions of up to 0.18% across 2-, 3- and 5-year fixed rate products up to 95% LTV.
This includes a 2-year fixed rate at 60% LTV with a £1,499 fee at 3.74%, a 2-year fixed rate at 90% LTV with a £999 fee at 4.27% and a 5-year fixed rate at 85% LTV with a £999 fee at 4.09%.
Remortgage customers will see reductions of up to 0.15% across 2- and 5-year fixed rate products between 75% and 90% LTV, including a 2-year fixed rate at 75% LTV with a £999 fee at 3.99%.
These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
Carlo Pileggi, Nationwide’s senior manager – mortgages, said: “As the country’s second largest lender, we always strive to support all parts of the market with competitive rates.
“This latest round of cuts across our range move even more of our rates below 4% and should put Nationwide front of mind of first-time buyers, those moving on to their next home and those looking for a new mortgage deal.”
