Nationwide announce multiple fixed-rate reductions

For those remortgaging, reductions have been made of between 0.10% and 0.20% on two, three and five-year fixed products at 60% and 75% LTV. New rates here include a five-year fixed rate at 60% LTV reduced by 0.14% to 4.79% with a £999 fee and a two-year fixed rate at 60% LTV reduced by 0.15% to 5.24% with a £999 fee.

For new customers moving home, reductions of between 0.10% and 0.25% have been made on two, three and five-year fixed products at 60% and 75% LTV and include a five-year fixed rate at 60% LTV reduced by 0.15% to 4.84% with a £999 fee and a two-year fixed rate at 75% LTV reduced by 0.10% to 5.29% with a £999 fee.

First-time buyers will see reductions of between 0.15% and 0.30% on two, three and five-year fixed products at 60% and 75% LTV. Highlights here include a five-year fixed rate at 60% LTV reduced by 0.20% to 4.84% with a £999 fee, a two-year fixed rate at 75% LTV reduced by 0.15% to 5.29% with a £999 fee, and a five-year fixed rate at 60% LTV reduced by 0.30% to 4.99% with no fee.

Nationwide’s first-time buyer mortgages also come with £500 cashback, while those looking to remortgage to the Society can choose between £500 cashback or free standard legal fees.

The lender also said that it will align its five-year fixed rates at 95% LTV for both first-time buyers and home movers to the rates on the society’s current two-year fixed rate products at 95% LTV. The rate changes mean five-year fixed rates at 95% LTV now start from 5.89%.

Henry Jordan, Director of Mortgages at Nationwide Building Society, said: “These latest rate changes ensure our fixed rate products remain among the most competitive in the market for all types of borrowers, with rates starting at 4.79% for people joining the Society and 4.64% for existing Nationwide borrowers.”