Nationwide launches sub-5% rates at 95% LTV in latest round of cuts

Nationwide has reduced rates by up to 0.26% on mortgage rates between 80% and 95% LTV.

With these changes, Nationwide is introducing sub-5% rates for first-time buyers as well as existing and new customers moving home at 95% LTV.

Nationwide is also introducing a range of new £1,499 fee products at both 90% and 95% LTV, which includes a five-year fixed rate at 95% LTV for first-time buyers at 4.99%.

For customers moving home, five-year fixed rates are now available from 4.57% at 90% LTV and 4.99% at 95% LTV, both with a £999 fee. Two-year fixed rates have reduced to 4.49% at 80% LTV with a £999 fee and 4.99% at 90% LTV with no fee.

First-time buyer rates have reduced by up to 0.26%, with the largest reductions at 95% LTV. A fee-free two-year fix is down to 5.30% and a five-year fix with a £999 fee has reduced to 5.04%.

Remortgage rates at 80%, 85% and 90% LTV have also decreased by up to 0.12%.

Nationwide has also introduced a range of two and five-year fixed rate products that come with a £1,499 fee. These products are available at 90% and 95% LTV and are available for first-time buyers, new and existing customers looking to move home and to those looking to remortgage to Nationwide.

Carlo Pileggi, Nationwide’s senior manager for mortgages, said: “Our latest rate cuts will be welcome news to borrowers with smaller deposits, particularly first-time buyers, and we’re pleased to once again be offering rates below five per cent for those with a five per cent deposit. The introduction of our new £1,499 fee products will also widen the choice of products available for those who are considering Nationwide for their mortgage needs.”