Nationwide increases residential mortgage rates by up to 0.20%

Nationwide has become the latest lender to increase rates across its residential mortgage range due to rising swap rates.

Rates have increased by up to 0.20% across selected two, three and five-year fixed products.

For first-time buyers, two-year fixed rates now start from 4.29% at 60% LTV and 4.43% at 75% LTV. Three-year fixes have risen to 4.19% at 60% LTV, 4.34% at 75% LTV, 4.59% at 80% LTV, 5.09% at 90% LTV and 5.44% at 95% LTV. Five-year fixes now start from 4.14% at 60% LTV.

For new members moving home, Two-year rates have increased to 4.17% at 60% LTV with a £1,499 fee, rising to 4.60% at 80% LTV. Three-year fixes now start from 4.12% and five-year fixes from 4.09%.

Nationwide has also increased selected remortgage rates at 60% and 75% LTV, with the cheapest rate on offer a five-year fix at 4.09%.

In its existing customer range, two, three and five-year fixed rates have increased for home movers, additional borrowing, and rate switching. Nationwide is still offering two sub-4% mortgage rates, with two five-year fixed rates available at 3.99% for additional borrowing and switching.

As part of the changes, Nationwide has also reduced rates across its 10-year fixed rate products by up to 0.11% and on higher LTV two-year fixed rates by up to 0.15%.

10-year fixed rates now start from 4.49% at 60% LTV for home movers and first-time buyers.

Reduced two-year fixed rates for first-time buyers include two-year fixed rates, now available at 5.04% up to 90% LTV and 5.49% at 95% LTV with a £999 fee.

The lender has also reduced rates on two-year tracker products by 0.25% following the recent Bank Rate reduction.

A Nationwide spokesperson said: “Nationwide is not immune to the current swap rate environment and the changes we’re making on our fixed rate range are reflective of that and the rate changes happening across the market.

“Our tracker rates are seeing a reduction to reflect last week’s Bank Rate decision. We continue to support existing customers with our pricing pledge and remain competitive and well-positioned in the market to support all borrowers.”