Nationwide cuts mortgage rates by up to 0.19%
From tomorrow, 4th August, rates will reduce by up to 0.19% across 2-, 3- and 5-year fixed rate products for both new and existing customers.
Nationwide will cut fixed mortgage rates for first-time buyers (FTBs), home movers and people remortgaging from tomorrow, 4th August.
The reductions are up to 0.19% across 2-, 3- and 5-year fixed rate products for both new and existing customers.
Nationwide’s lowest fixed rate is now 4.52%.
For FTBs, rates will be reduced by up to 0.19% on 2-, 3- and 5-year fixed products up to 95% loan-to-value (LTV).
Among the changes, its 2-year fixed rate at 90% LTV with a £999 fee will fall by 0.10% to 4.88%, its 3-year fixed rate at 60% LTV with a £999 fee will reduce by 0.15% to 4.69%, and its 2-year fixed rate at 95% LTV with a £999 fee will decrease by 0.19% to 5.25%.
Home movers will also benefit from reductions across selected products. The 3-year fixed rate at 80% LTV with a £999 fee will fall by 0.15% to 4.84%, the 2-year fixed rate at 60% LTV with a £1,499 fee will reduce by 0.02% to 4.52%, while the 2-year fixed rate at 95% LTV with a £999 fee will drop by 0.19% to 5.25%.
For remortgage customers, rates will decrease by up to 0.13% across selected 2-, 3- and 5-year fixed products up to 95% LTV.
The 5-year fixed rate at 75% LTV with a £999 fee will fall by 0.13% to 4.81%, the 3-year fixed rate at 85% LTV with a £999 fee will reduce by 0.10% to 4.99%, and the 2-year fixed rate at 60% LTV with a £999 fee will decrease by 0.07% to 4.70%.
Carlo Pileggi, head of mortgage products at Nationwide, said: “After a period of increasing swap rates, recent falls have created an opportunity for us to reduce mortgage rates, and we’re moving swiftly to ensure new and existing customers can benefit.
“These rate cuts will benefit a wide range of customers – first-time buyers, new and existing customers moving home as well as those remortgaging to Nationwide.”
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