Nationwide Building Society is reducing rates across its mortgage range by up to 0.60 percentage points, effective from tomorrow, Friday the 6th of January.
For first-time buyers, there are reductions of up to 0.60% across 2-, 3- and 5-year fixed rate products up to 90% loan-to-value (LTV).
This includes a 5-year fixed rate at 60% LTV with a £999 fee now at 4.44% (reduced by 0.40%), another 5-year fixed rate at 85% LTV with no fee now at 4.84% (reduced by 0.60%), and a 2-year fixed rate at 60% LTV with a £999 fee now at 4.89% (reduced by 0.35%).
Henry Jordan, director of mortgages at Nationwide Building Society, said: “We’re making these latest rate reductions to ensure the Society remains front of mind for all borrowers, especially those where rate is a key consideration.
“So, whether it’s a first-time buyer, someone purchasing their next home or those looking to remortgage once their current deal comes to end, Nationwide’s mortgage range has competitive rates across all loan-to-values. “
Additionally, those wishing to remortgage will benefit reductions of up to 0.55% across 2-, 3- and 5-year fixed rate products up to 90% LTV.
These products include a 5-year fixed rate at 90% LTV with a £999 fee nowat 4.89% (reduced by 0.55%), a 5-year fixed rate at 60% LTV with a £999 fee now at 4.43% (reduced by 0.36%), as well as a 3-year fixed rate at 80% LTV with a £999 fee now at 4.99% (reduced by 0.55%).
New customers moving home will see reductions of up to 0.60% across 2-, 3- and 5-year fixed rate products up to 90% LTV.
This reduced range includes a 5-year fixed rate at 60% LTV with a £999 fee now at 4.44% (reduced by 0.40%), a 5-year fixed rate at 85% LTV with no fee now at 4.79% (reduced by 0.60%), and a 2-year fixed rate at 80% LTV with a £999 fee now at 4.99% (reduced by 0.55%).
For the Society’s existing members moving home, Nationwide is also reducing rates by up to 0.60% on 2-, 3- and 5-year fixed rate products up to 90% LTV. S
hared equity rates up to 80% LTV are also being reduced by up to 0.60%.
Nationwide is also reducing rates on selected switcher products by up to 0.06%. This continues the Society’s existing mortgage member pricing pledge meaning Nationwide’s switcher products will be the same or lower than remortgage equivalents.
For those looking to borrow more, Nationwide is also reducing selected fixed rates on its additional borrowing range by up to 0.06%, while the rate on Green Additional Borrowing is also being reduced by 0.10% with the rate now 4.39%.
Jordan added: “We are also maintaining our existing mortgage member pricing pledge meaning our switcher products will be the same or lower than remortgage equivalents.
“These latest changes, coupled with our existing schemes such as Helping Hand and Deposit Unlock, show our support for the housing market and all types of borrowers remains as a strong as ever and what people come to expect from the world’s largest building society.”
