Nationwide Building Society has announced a series of mortgage rate reductions across its range of fixed-rate products, with changes taking effect from tomorrow, Thursday 10th July.
The lender will be lowering rates by up to 0.20% on selected 2, 3- and 5-year fixed-rate mortgages.
The changes are set to benefit a range of borrowers, including first-time buyers, remortgagers, and existing customers looking to switch or borrow more.
For first-time buyers, Nationwide is reducing rates by up to 0.11% on 2- and 5-year fixed products up to 90% loan-to-value (LTV).
Among the revised offers, the 2-year fixed rate at 85% loan-to-value (LTV) with a £1,499 fee will be 4.13%, down by 0.06%.
A 5-year fixed rate at 85% LTV with a £999 fee will drop to 4.19%, reflecting a 0.10% reduction.
Meanwhile, the 5-year fixed rate at 90% LTV with no fee will now be 4.49%, also down by 0.10%.
Remortgage customers will also benefit from rate cuts of up to 0.11% on selected 2-. 3- and 5-year products up to 90% LTV.
This includes a 2-year fixed rate at 80% LTV with a £999 fee, reduced to 4.44% (a 0.05% cut), a 3-year fixed rate at 85% LTV with no fee reduced to 4.60% (down 0.10%), and a 5-year fixed rate at 85% LTV with a £999 fee, now available at 4.24% (down by 0.09%).
Nationwide is also reducing selected switcher rates by up to 0.20% for existing customers switching to a new deal, with rates available up to 95% LTV starting from 3.84%.
In addition, the society is cutting rates on additional borrowing products by up to 0.14% on 2-, 3- and 5-year fixed options up to 90% LTV, with starting rates also from 3.84%.
Carlo Pileggi, Nationwide’s senior manager – mortgages, said: “We’re making further cuts across selected products from our fixed mortgage range to ensure that Nationwide continues to be front of mind for those looking to buy their first home, move to their next or who want to switch to a new deal.
“These latest cuts will particularly help first-time buyers and our existing members switching to new deals.”
