Nationwide Building Society is set to cut mortgage rates for the second time this month, announcing reductions of up to 0.19% across a wide range of 2-, 3- and 5-year fixed products.
The new pricing takes effect from tomorrow, Friday 28th November, and applies to both new and existing customers.
The society’s lowest rate will now start at 3.60%, available to movers taking a 2-year fix at 60% loan-to-value (LTV) with a £1,499 fee.
The cuts span all major borrower groups.
Home movers will see reductions of up to 0.14%, including a 2-year fix at 60% LTV with a £1,499 fee at 3.60%, a 5-year fix at 75% LTV with no fee at 3.99%, and a 5-year 85% LTV option with a £1,499 fee at 3.96%.
First-time buyers will benefit from reductions of up to 0.13%, such as a 2-year fix at 60% LTV with a £1,499 fee at 3.83%, a 3-year no-fee fix at 75% LTV at 4.21%, and a 5-year no-fee fix at 90% LTV at 4.46%.
For switchers (existing Nationwide customers coming to the end of their deal) rates will fall by up to 0.19%.
Updated options include a 2-year fix at 60% LTV with a £999 fee at 3.72%, a 5-year no-fee fix at 60% LTV at 4.03%, and a 3-year no-fee fix at 75% LTV at 4.19%.
These changes form part of Nationwide’s pricing pledge that switcher rates will always match or beat equivalent remortgage deals.
Remortgagers will also see cuts of up to 0.14%, with a 2-year fix at 60% LTV with a £1,499 fee priced at 3.72%, a 5-year no-fee fix at 60% LTV at 4.04%, and a 3-year no-fee fix at 75% LTV at 4.24%.
Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re making rate cuts across our mortgage range, which should be welcome news to all types of borrowers.
“So, whether it’s a first-time buyer, home mover or someone looking to remortgage or switch their existing deal, Nationwide should continue to remain front of mind through its competitively priced products.”
