Nationwide cuts mortgage rates by up to 0.21%

Nationwide is cutting rates by up to 0.21% on selected two, three and five-year fixed rate products across its mortgage range, with its lowest rate now at 3.74%. 

The new rates, effective from Wednesday 30th July, cover products for first-time buyers, home movers and remortgage.

For first-time buyers, a two-year fix at 60% LTV has reduced to 3.86% with a £1,499 fee. At 90% LTV, a two-year fix has reduced by 11bps to 4.33% with a £999 fee and by 21bps to 4.79% fee-free.

For new and existing customers moving home, rates will reduce by up to 0.18% across two, three and five-year fixed rate products up to 95% LTV.

The lowest rate is a two-year fix at 60% LTV, down to 3.74% with a £1,499 fee. A two-year fix at 90% LTV is down to 4.27% and a five-year fix at 85% LTV has reduced to 4.09%, both with a £999 fee.

Remortgage products have seen reductions of up to 0.15% across two and five-year fixed rate products between 75% and 90% LTV. Highlights include a two-year fix at 75% LTV, down to 3.99% with a £999 fee.

These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.

Carlo Pileggi, Nationwide’s senior manager for mortgages, said: “As the country’s second largest lender, we always strive to support all parts of the market with competitive rates. This latest round of cuts across our range move even more of our rates below 4% and should put Nationwide front of mind of first-time buyers, those moving on to their next home and those looking for a new mortgage deal.”