Nationwide launches sub-4% mortgage rate

Nationwide has launched a 3.99% mortgage in its latest round of rate reductions.

For existing customers switching to a new deal and new customers remortgaging, Nationwide is reducing rates by up to 0.25% across selected two, three and five-year fixed rate products with the new rates effective from tomorrow.

As a result, Nationwide’s lowest mortgage rate now stands at 3.99% at 60% LTV with a £999 fee, with two-year fixed rates starting from 4.09%.

These latest 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.

Nationwide is also cutting selected fixed rates by up to 0.25% for both first-time buyers and those looking to move home, with the lowest rates at 4.02%.

Additional borrowing rates are also being cut by up to 0.15% on two, three and five-year fixed products up to 90% LTV, with rates starting from 3.99%.

Carlo Pileggi, Nationwide’s senior mortgages manager, said: “Our third set of rate cuts in three weeks should come as great news for borrowers. We remain as committed as ever to supporting all segments of the market, including those buying their first home or moving to their next, and with our switcher and remortgage rates starting from 3.99%, we aim to be front of mind for those looking for a new deal too.”