Nationwide cuts first-time buyer and remortgage rates by up to 0.20%

Nationwide is reducing rates by up to 0.20% across selected two, three and five-year fixed rate products with the new rates effective from tomorrow.

First-time buyers will see reductions of up to 0.11% across two, and five-year fixed rate products up to 90% LTV.

Highlights include a two-year fix at 85% LTV with a £1,499 fee, down to 4.13%, and a five-year fix at 85% LTV with a £999 fee, reduced to 4.19%. 

In addition, a five-year fix at 90% LTV with no fee is now available at 4.49%.

Remortgage rates will also see reductions of up to 11bps, with a two-year fix at 80% LTV down to 4.44% with a £999 fee. At 85% LTV, a three-year fix with no fee is down to 4.60% and a five-year fix with a £999 fee has decreased to 4.24%.

Nationwide is also reducing selected two, three and five-year switcher rates up to 95% LTV by up to 0.20%, with rates starting from 3.84%.  

Additional borrowing rates are being cut by up to 0.14% on two, three and five-year fixed products up to 90% LTV, with rates starting from 3.84%.

Existing customers moving home will continue to receive rates the same or lower than the equivalent rates available for new customers moving home.

Carlo Pileggi, Nationwide’s senior mortgages manager, 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.”