Nationwide launches lower-rate mortgage range from 3.90%

Nationwide is reducing rates by up to 0.12% across selected two, three and five-year fixed rate products from tomorrow, Thursday, 5th June.

Nationwide’s new lowest lending rate now stands at 3.90%, with reductions also made for those remortgaging to the Society. Rates for existing customers switching, which are not changing, already start from 3.84%.

For new and existing customers moving home, rates have reduced by up to 0.10%  across two, three and five-year fixed rate products up to 90% LTV. A two-year fixed rate at 60% LTV now starts from 3.90% with a £1,499 fee. A two-year fix at 75% LTV has reduced to 4.04% and a five-year fix at 85% LTV is down to 4.29%, both with a £999 fee.

Remortgage rates are decreasing by up to 0.12% across two, three and five-year fixed rate products up to 85% LTV with rates starting from 3.92% for a two-year fix at 60% LTV.

A three-year fixed rate remortgage product at 75% LTV has reduced to 4.47% and a five-year fix at 85% LTV is down to 4.52%, both with no fee.

Carlo Pileggi, Nationwide’s senior mortgages manager, said: “These latest reductions will be welcome news for borrowers. We remain as committed as ever to supporting all areas of the market, whether it’s first-time buyers, home movers or those looking for a new deal, and with our reduced rates starting from 3.90%, we aim to be front of mind.”