Nationwide makes further mortgage rate cuts of up to 0.19%

Nationwide is making further rate cuts across its fixed rate mortgage range, and also cutting rates on selected tracker mortgage products.

Rates will be reduced by up to 0.19% across two, three, five and ten-year fixed rate products, while rates will be cut by up to 0.12% on selected two-year tracker products.

In Nationwide’s remortgage range, rates have reduced by up to 0.19%, with the largest reduction to a two-year fix at 90% LTV with no fee, down to 5.20%. 

At 60% LTV, two-year fixed rate remortgage products now start from 4.37% with a £1,499 fee and a five-year fix is down to 4.49% with a £999 fee.

Switcher rates are reducing by up to 0.16%, with 60% LTV two-year rates available from 4.37% and five-year rates from 4.44%, both with a £999 fee.

These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same as or lower than the remortgage equivalents.

First-time buyer rates are also down by up to 0.19%, with a five-year fixed rates down to 4.37% at 60% LTV, 4.61% at 90% LTV, and 5.08% at 95% LTV, all with a £999 fee.

First-time buyers receive £500 cashback when they complete their mortgage with Nationwide. First-time buyers and those moving home can also benefit from cashback of up to £500 if they purchase an energy-efficient property through Nationwide’s Green Reward.

Finally, new and existing customers moving home will benefit from rate reductions of up to 0.15%. A two-year fix at 85% LTV has reduced to 4.45% with a £999 fee and a five-year fix at 90% LTV has decreased to 4.69% with no fee. Three-year fixed rate reductions include a 75% LTV product down to 4.49% and a 95% LTV rate down to 5.16%, both with a £999 fee.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “Another set of rate cuts across our mortgage range is further proof that Nationwide is an all-round lender committed to supporting all types of borrowers. The changes we’re making tomorrow will ensure we remain competitive and continue to be front of mind for brokers and customers alike in a fast-moving mortgage market.”