Nationwide launches new sub-4% remortgage and switcher rates

Nationwide is cutting rates across its switcher and remortgage ranges by up to 0.29% across two, three and five-year fixed rate and two-year tracker products.

Available from tomorrow, Nationwide’s lowest remortgage rate now stands at 3.94% and is available on both the two and five-year fixed rate products at 60% LTV with a £1,499 fee.

Switcher rates for existing customers also start from 3.94%, but with a lower £999 fee.

Other remortgage rates will see cuts of up to 0.29%, with a two-year fix at 85% LTV down by 24bps to 4.60% and a five-year fix at 75% LTV down to 4.12%, both with a £999 fee.

Switcher rates will reduce by up to 0.24% across selected two, three and five-year fixed rate and two-year tracker products up to 95% LTV.

The largest reduction is to a two-year fix at 85% LTV, down to 4.55% with a £999 fee. A five-year fix at 75% LTV is down to 4.07% with a £999 fee.

The changes also continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents. 

These changes also follow on from the cuts of up to 0.25% across Nationwide's first-time buyer and home mover ranges on Wednesday.

Carlo Pileggi, Nationwide’s senior mortgage manager, said: “After cutting rates for first-time buyers and home movers earlier this week, we are now reducing rates for existing customers looking for a new deal and new customers wanting to remortgage. The latest cuts ensure that we have competitive mortgage rates across the board and firmly position us as the go-to lender for every type of borrower.”