Nationwide Building Society is reducing rates across its mortgage range by up to 0.20%, effective from tomorrow, Friday the 20th of January.
First-time buyers will benefit from reductions of up to 0.15% across 2-, 3- and 5-year fixed rate products up to 90% loan-to-value (LTV) and 2-year trackers up to 85% LTV, including a 5-year fixed rate at 60% LTV with a £999 fee is now 4.39% (reduced by 0.05%) and a 2-year fixed rate at 60% LTV with a £999 fee is now 4.79% (reduced by 0.10%).
Remortgage customers will also see reductions of up to 0.20% across 2-, 3- and 5-year fixed rate products and 2-year trackers up to 90% LTV, including a 5-year fixed rate at 90% LTV with a £999 fee is now 4.79% (reduced by 0.10%) as well as a 3-year fixed rate at 80% LTV with a £999 fee is now 4.94% (reduced by 0.05%).
Henry Jordan, director of mortgages at Nationwide Building Society, said: “These latest rate reductions showcase to borrowers that we want to continue offering some of the most competitive mortgage products on the market, as we look to support as many people as possible whether they are buying a new home or remortgaging their existing home.
“For those looking at their current property, we’ve also made a number of rate reductions on our Additional Borrowing, including our Green Additional Borrowing for those who want to improve the energy efficiency of their home.”
For new customers moving home, the Society has intorduced reductions of up to 0.20% across 2-, 3- and 5-year fixed rate products up to 90% LTV and 2-year trackers up to 85% LTV.
Some offerings from this range include a 5-year fixed rate at 60% LTV with a £999 fee is now 4.34% (reduced by 0.10%), a 5-year fixed rate at 85% LTV with no fee is now 4.69% (reduced by 0.10%), and a 2-year fixed rate at 80% LTV with a £999 fee is now 4.89% (reduced by 0.10%).
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.20% on 2-, 3- and 5-year fixed rate products plus 2-year trackers up to 90% LTV.
Shared equity rates up to 80% LTV are also being reduced by up to 0.20%.
Nationwide is also reducing rates on selected switcher products by up to 0.20%.
This continues the Society’s existing mortgage member pricing pledge, meaning Nationwide’s switcher product rates will be the same or lower than remortgage equivalents.
For those looking to borrow more, Nationwide is also reducing selected 2-, 3- and 5-year fixed rates and 2-year trackers on its additional borrowing range by up to 0.20%, while the rate on Green Additional Borrowing is also being reduced by 0.05% to 4.34%.
