Nationwide Building Society will be reducing selected 2-, 3- and 5-year fixed and 2-year tracker mortgage rates by up to 0.30% from tomorrow, Wednesday the 23rd of November.
Some of the new rates include remortgage reductions of between 0.05% and 0.26% on selected fixed and tracker products up to 90%.
Highlights from this range include a 5-year fixed rate at 60% LTV reduced by 0.26% to 4.93%, with a £999 fee and a 2-year tracker rate at 80% LTV reduced by 0.15% to 3.94%, with a £999 fee.
Henry Jordan, director of mortgages at Nationwide Building Society, said: “Continued market stability and the downward trend in swap rates have meant we’ve been able to make further rate reductions on a large number of products across our mortgage range.
“These changes now mean the Society has selected remortgage and house purchase products with rates below five per cent as we continue to support all types of borrowers, whether moving home or looking for a new deal.”
Additionally, the reductions also cater towards new customers moving home, who stand to benefit from reductions of between 0.05% and 0.25% on selected fixed and tracker products up to 95%.
First-time buyers will also see reductions of between 0.05% and 0.30% on selected fixed and tracker products up to 95% including, a 5-year fixed rate at 90% LTV reduced by 0.15% to 5.29%, with a £999 fee and a two-year fixed rate at 80% LTV reduced by 0.10% to 5.59%, with a £999 fee.
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.25%, while shared equity rates are being reduced by 0.20%.
Nationwide’s first-time buyer mortgages also come with £500 cashback, while those looking to remortgage to the Society can choose between £500 cashback or free standard legal fees.
