Lender aims to remain competitive across the board
Nationwide Building Society is to reduce selected rates by up to 0.31 percentage points across its two, three and five-year fixed rate product range, with its lowest rate at 4.29%.
The new rates, effective from Friday, include:
New customers moving home: reductions of up to 0.26% across two, three and five-year fixed rate products up to 95% LTV, including:
- Five-year fixed rate at 60% LTV with a £999 fee is 4.29% (reduced by 0.14%)
- Two-year fixed rate at 60% LTV with a £999 fee is 4.65% (reduced by 0.14%)
- Three-year fixed rate at 90% LTV with a £999 fee is 5.29% (reduced by 0.26%)
First-time buyers: reductions of up to 0.28% across two, three and five-year fixed products up to 95% LTV, including:
- Five-year fixed rate at 60% LTV with a £999 fee is 4.34% (reduced by 0.15%)
- Two-year fixed rate at 75% LTV with a £999 fee is 4.85% (reduced by 0.28%)
- Three-year fixed rate at 90% LTV with a £999 fee is 5.31% (reduced by 0.19%)
Remortgage: reductions of up to 0.31% across two, three and five-year fixed rate products up to 90% LTV, including:
- Five-year fixed rate at 60% LTV with a £999 fee is now 4.68% (reduced by 0.06%)
- Three-year fixed rate at 75% LTV with a £999 fee is now 4.89% (reduced by 0.31%)
- Two-year fixed rate at 80% LTV with no fee is now 5.48% (reduced by 0.08%)
Nationwide is also reducing selected two, three and five-year switcher rates at 95% by up to 0.19%. These latest changes also continue its existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.
It is reducing rates and for existing customers moving home by up to 0.24%.
Henry Jordan, director of home at Nationwide Building Society, said: “These latest changes mark our eleventh reduction in four months with rates now starting from 4.29%. In a continually moving market, we always aim to remain competitive across the board for first-time buyers, home movers and those looking to remortgage.”
