Nationwide Building Society has reduced mortgage rates across its fixed product range, with cuts of up to 0.36% for first-time buyers, home movers and remortgage customers.
The new rates will take effect from Tuesday 12th May.
The lender said the reductions apply across 2-, 3- and 5-year fixed rate products, with Nationwide’s lowest available rate now standing at 4.35%.
For first-time buyers, reductions of up to 0.36% have been made across products up to 95% loan-to-value (LTV).
This includes a 5-year fixed rate at 90% LTV with a £999 fee reduced by 0.36% to 4.89%, and a 5-year fixed rate at 85% LTV with a £999 fee reduced by 0.34% to 4.79%.
A 2-year fixed rate at 85% LTV with a £999 fee has been reduced by 0.26% to 4.69%, while a 2-year fixed rate at 60% LTV with a £1,499 fee has been cut by 0.18% to 4.48%.
Nationwide said first-time buyers continue to receive £500 cashback on completion, while eligible borrowers purchasing energy-efficient homes can also receive up to £500 through its Green Reward proposition.
For existing and new customers moving home, reductions of up to 0.24% have been made across products up to 95% LTV.
This includes a 2-year fixed rate at 60% LTV with a £1,499 fee reduced by 0.15% to 4.35%, a 5-year fixed rate at 60% LTV with a £999 fee reduced by 0.24% to 4.49%, and a 5-year fixed rate at 75% LTV with a £999 fee reduced by 0.19% to 4.59%.
A 2-year fixed rate at 90% LTV with a £999 fee has also been reduced by 0.20% to 4.89%.
Nationwide said the latest changes continue its policy of offering existing customers moving home the same or lower rates than equivalent products available to new borrowers.
Within the remortgage range, cuts of up to 0.24% have been made across products up to 90% LTV.
A 2-year fixed rate at 75% LTV with a £999 fee has been reduced by 0.24% to 4.76%, while a 2-year fixed rate at 60% LTV with a £1,499 fee has been cut by 0.22% to 4.63%.
A 5-year fixed rate at 85% LTV with a £999 fee has been reduced by 0.06% to 4.94%.
Carlo Pileggi, head of mortgage products at Nationwide Building Society, said: “We’re pleased to be cutting our mortgage rates once again, with the biggest reductions this time aimed at first-time buyers.
“Some of our biggest rate cuts are being made on our higher loan-to-value mortgages, which will help those with smaller deposits to take their first step on to the property ladder.
“However, Nationwide remains an all-round lender and these rate cuts reflect our broader aim of supporting customers at every stage of homeownership.”
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