These new rates are available from 3 June and reflect recent movements in the money markets.
Nationwide, from 3 June, will reduce the number of Loan to Value (LTV) bands from three to two on all fixed rate and tracker products. New borrowers with an LTV of between 75%-90% will now pay the same rate as borrowers in the 0-75% LTV band, offering them a better deal. This move will simplify the product range so that there are now only two LTV tiers for new borrowers as well as improving Nationwide’s competitive position.
Nationwide executive director, Stuart Bernau says, "This is another example of how we at Nationwide are giving our members a better deal, by simplifying our products and making our rates more attractive. All our mortgages are available to both new and existing customers and come with a range of flexible features."
All new Nationwide fixed and tracker rates allow borrowers the additional flexibility to overpay or underpay during the fixed rate period and are available to all borrowers. Nationwide will withdraw its current range of fixed rate mortgage products from close of business on 2 June.
