Nationwide Building Society is reducing rates across the majority of its fixed rate mortgage products by up to 0.45%, with the new rates effective from tomorrow, Wednesday 11th October.
These latest reductions mean Nationwide is offering competitive rates to all types of borrowers whether they are buying their first home or moving to their next or whether they are looking to remortgage or switch to a new deal.
For new customers moving home there will be reductions of up to 0.45% across 2-, 3-, 5- and 10-year fixed rate products up to 95% loan-to-value (LTV).
First-time buyers will also benefit from reductions of up to 0.29% across fixed rate products up to 95% LTV, including a 5-year fixed rate at 90% LTV with a £999 fee at 5.30%, as well as a 2-year fixed rate at 60% LTV with no fee at 5.74%.
Products in Nationwide’s remortgage range will be reduced by up to 0.36% across 2-, 3-, 5- and 10-year fixed rate products up to 75% LTV.
Nationwide is also reducing rates across its switcher range by up to 0.45%, with rates starting from 4.74% on 5-year fixed products and 4.99% for 3-year products.
These latest changes also continue Nationwide’s existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.
Nationwide is reducing additional borrowing and rates for existing customers moving home by up to 0.45%.
Henry Jordan, director of home at Nationwide Building Society, said: “As a mutual and one of the largest lenders in the country, we remain as committed as ever to supporting borrowers, which is why, with swap rates continuing their downward trajectory, we’re making yet more rate cuts across the majority of our product range.
“These latest rate cuts will ensure that we have some of the most competitive rates on the market for all types of borrowers whether it be first-time buyers, home movers or those looking to remortgage or switch deal.”
