Nationwide cuts mortgage rates by up to 0.33%

From tomorrow, Nationwide Building Society is reducing selected rates by up to 0.33%, with rates now starting from 4.09%.

The largest rate cuts are for first-time buyers, with two-year fixed rates down by 33bps to 4.50% at 80% LTV and by 25bps to 5.29% at 95% LTV, both with a £999 fee.

Selected three-year fixed rates for first-time buyers are also reducing by up to 0.05%.

For new customers moving home, rates will decrease by up to 0.22% across two, three and five-year fixed rate products up to 95% LTV.

Highlights include a five-year fixed rate at 85% LTV, down to 4.45% with a £999 fee, and a two-year fix at 75% LTV which is lowering to 4.24% with a £1,499 fee.

Nationwide, is also reducing rates for existing customers moving home by up to 0.22%, with rates now starting from 4.09%.

Carlo Pileggi, Nationwide’s senior mortgage manager, said: “As one of the UK’s largest lenders, we remain as committed as ever to supporting home movers and first-time buyers, with these reductions following our cuts for remortgage and switcher customers last week. These latest reductions bring five-year and two-year fixed rates closer together, with our first-time buyer £999 fee products fully aligned across both terms. We now have some of the most competitive rates on the market, whether it be for first-time buyers or customers moving home.”