Nationwide launches new mortgage rates from 3.58% in latest round of cuts

Nationwide is cutting rates across its fixed rate mortgage range by up to 0.21%. Nationwide’s lowest rate1 now stands at 3.58% and it is the first time that Nationwide has offered a fixed mortgage rate lower than 3.60% since September 2022.

Available from tomorrow, the lowest rate of 3.58% is available on a two-year fixed rate at 60% LTV for new and existing customers moving home, and comes with a £1,499 fee. Other rates in the range have reduced by up to 0.13% with two-year fixed rates available at 3.67% up to 75% LTV and 3.81% up to 85% LTV, both with a £999 fee. A five-year fix at 60% LTV has also reduced to 3.80% with a £999 fee.

First-time buyer rates have reduced by up to 0.21%, with two-year fixes down to 3.92% at 85% LTV and 4.68% at 95% LTV. A five-year fix at 95% LTV has decreased to 4.78% with a £999 fee.

First-time buyers also receive £500 cashback when they complete their mortgage with Nationwide.

First-time buyers and those moving home can also benefit from cashback of up to £500 if they purchase an energy-efficient property through Nationwide’s Green Reward.

Switcher rates have reduced by up to 0.10%, with 60% LTV two and five-year fixed rates down to 3.65% and 3.74% respectively.

Remortgage rates are down by up to 0.14%, with a 60% LTV two-year fix down to 3.65% with a £1,499 fee and a 60% LTV five-year fix at 3.79% with a £999 fee. The largest reduction is to a three-year fix at 85% LTV, reducing to 4.35% with no fee.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re making cuts across our fixed rate mortgage range with even more of our rates now below four per cent. These latest changes, which follow hot on the heels of the wide-ranging rate cuts we made at the end of last week, demonstrate that Nationwide remains focused on offering competitive rates to first-time buyers, home movers and those looking for a new deal.”