Nationwide cuts mortgage rates by up to 0.36%

From tomorrow, Nationwide is cutting rates across its first-time buyer, home mover and remortgage ranges. 

The latest changes will see rates reduced by up to 0.36% points across two, three and five-year fixed rate products, with Nationwide’s lowest rate now at 4.35%.

Rates have reduced by up to 0.24% for new and existing borrowers moving home, with a 60% LTV two-year fixed rate down to 4.35% with a £1,499 fee and a five-year fix starting from 4.49% with a £999 fee.

Other highlights include a five-year fix at 75% LTV, down by 19bps to 4.59%, and a two-year fix at 90% LTV, reducing by 20bps to 4.89%, both with a £999 fee.

First-time buyers will benefit from rate reductions of up to 0.36%. Highlights include two-year fixed rates at 4.48% up to 60% LTV with a £1,499 fee and 4.69% at 85% LTV with a £999 fee.

Five-year fixed rates have reduced to 4.79% at 85% LTV and 4.89% at 90% LTV, both with a £999 fee.

First-time buyers receive £500 cashback when they complete their mortgage and can also benefit from cashback of up to £500 if they purchase an energy-efficient property through Nationwide’s Green Reward.

Remortgage rates will reduce by up to 0.24%, with a 60% LTV two-year fix starting from 4.63% with a £1,499 fee and a 75% LTV two-year fix down to 4.76% with a £999 fee.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re pleased to be cutting our mortgage rates once again, with the biggest reductions this time aimed at first-time buyers. Some of our biggest rate cuts are being made on our higher loan-to-value mortgages, which will help those with smaller deposits to take their first step on to the property ladder. However, Nationwide remains an all-round lender and these rate cuts reflect our broader aim of supporting customers at every stage of homeownership.”