Latest Nationwide rate cuts bring lowest mortgage rate back below 4.5%

Nationwide has announced further rate reductions across its fixed mortgage range, supporting first-time buyers, home movers and people remortgaging.

Available from tomorrow, the latest changes will see rates reduced by up to 0.15% across two, three and five-year fixed rate products.

Nationwide’s lowest rate now stands at 4.48% for new and existing customers looking to move home. Elsewhere in its homemover range, a five-year fix at 90% LTV is down to 4.81% and a three-year fix at 95% LTV has reduced to 5.24%, both with a £999 fee.

First-time buyer rates have reduced by up to 0.10% across two, three and five-year fixed rate products up to 95% LTV. A three-year fixed rate at 60% LTV has reduced to 4.99% with no fee. A 90% LTV five-year fix has decreased to 4.82% with a £999 fee and a two-year fix at 95% LTV is down to 5.34% fee-free.

First-time buyers also receive £500 cashback when they complete their mortgage with Nationwide. First-time buyers and those moving home can also benefit from cashback of up to £500 if they purchase an energy-efficient property through Nationwide’s Green Reward.

In Nationwide's remortgage range rates have reduced by up to 0.15%, with a 60% LTV five-year fix down to 4.79% and a three-year fix at 60% LTV reducing to 4.94%, both fee-free.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re pleased to announce a further set of rate cuts across our fixed mortgage range, building on the cuts we made at the beginning of August. These latest changes bring our lowest mortgage rate back below 4.5% for new and existing borrowers moving home, whilst also maintaining our support for first-time buyers with smaller deposits and those remortgaging.”