It also maintains its existing mortgage member pricing pledge for switcher products
Nationwide Building Society has announced rate reductions of up to 0.60 percentage points across its mortgage range, effective today, January 6.
For first-time buyers, rates were reduced by up to 0.60% across two-, three-, and five-year fixed rate products up to 90% loan-to-Value (LTV), including the following:
- Five-year fixed rate at 60% LTV with a £999 fee is now 4.44% (reduced by 0.40%)
- Five-year fixed rate at 85% LTV with no fee is now 4.84% (reduced by 0.60%)
- Two-year fixed rate at 60% LTV with a £999 fee is now 4.89% (reduced by 0.35%)
- Two-year fixed rate at 85% LTV with a £999 fee is now 5.09% (reduced by 0.55%)
For those remortgaging, rates of two-, three-, and five-year fixed rate products up to 90% LTV were slashed by up to 0.55% across, including:
- Five-year fixed rate at 90% LTV with a £999 fee is now 4.89% (reduced by 0.55%)
- Five-year fixed rate at 60% LTV with a £999 fee is now 4.43% (reduced by 0.36%)
- Three-year fixed rate at 80% LTV with a £999 fee is now 4.99% (reduced by 0.55%)
New customers moving home will also benefit from rate reductions of up to 0.60% 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 4.44% (reduced by 0.40%)
- Five-year fixed rate at 85% LTV with no fee is now 4.79% (reduced by 0.60%)
- Two-year fixed rate at 80% LTV with a £999 fee is now 4.99% (reduced by 0.55%)
For the building society’s existing members moving home, Nationwide is also reducing rates by up to 0.60% on two-, three-, and five-year fixed rate products up to 90% LTV. Shared equity rates up to 80% LTV are also being cut by up to 0.60%.
Selected switcher products are also getting rates lowered by up to 0.06%.
For those looking to borrow more, the mutual is reducing selected two-, three-, and five-year fixed rates on its additional borrowing range by up to 0.06%, while the rate on green additional borrowing is also being reduced by 0.10% with the rate now at 4.39%.
Full details of all rates, indicating the latest rate changes, can be found on Nationwide’s website.
“We’re making these latest rate reductions to ensure the society remains front of mind for all borrowers, especially those where rate is a key consideration,” Henry Jordan (pictured), director of mortgages at Nationwide Building Society, said. “We are also maintaining our existing mortgage member pricing pledge, meaning our switcher products will be the same or lower than remortgage equivalents.
“These latest changes, coupled with our existing schemes such as Helping Hand and Deposit Unlock, show our support for the housing market and all types of borrowers.”
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