Nationwide cuts first-time buyer, home mover and remortgage rates by up to 0.28%

Nationwide is cutting rates across its mortgage range for first-time buyers, home movers and people remortgaging. 

The latest changes, available from tomorrow, will see rates reduced by up to 0.28% across two, three, five and ten-year fixed rate products, with Nationwide’s lowest rate now at 4.29%.

First-time buyer rates are reducing by up to 0.20%. Five-year fixed rates start from 4.62% at 60% LTV with a £1,499 fee, rising to 4.67% at 85% LTV with a £999 fee and 4.89% at 90% LTV with no fee. 

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.

Remortgage rates have reduced by up to 0.28%, with the largest cut to a two-year fix at 60% LTV, down to 4.83% with no fee. A £1,499 fee-paying equivalent product is available at 4.56%, with a five-year fix at 60% LTV reducing to 4.64% with a £999 fee.

For existing and new customers moving home, rates are reducing by up to 0.17%. Among the changes are two-year fixed rates at 60% LTV, down to 4.29% with a £1,499 fee, with a fee-free 90% LTV product reducing by 17bps to 4.99%.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re delighted to be cutting rates again as we look to put Nationwide at the forefront of borrowers’ minds. These changes will support first-time buyers and home movers, as well as provide competitive options for those looking to remortgage. 

"Following the rate cuts last week to our switcher range for existing customers, this underlines our role as an all-round lender focused on supporting borrowers across the housing market.”