Nationwide price matches Barclays to secure joint lowest mortgage rate
“We’re making further cuts across our fixed mortgage range in support of all segments of the market “
– Henry Jordan, Nationwide’s Director of Home
Nationwide is reducing rates by up to 0.20% across its two, three and five-year fixed rate products, with its lowest rate now standing at 3.83%.
Available from tomorrow, the five-year fixed rate at 60% LTV is available to new and existing customers who are looking to move home and comes with a £1,499 fee.
Barclays previously offered the lowest rate on the market, launching a Premier five-year fixed rate last week at 3.83%, available up to 60% LTV with a £899 product fee.
Other rate reductions across Nationwide’s home mover range include a five-year fixed rate at 60% LTV, down by 16bps to 3.88% with a £999 fee. A two-year fix at 60% LTV is also decreasing by 11bps to 4.35% with a £999 fee.
Its first-time buyer products have seen reductions of up to 0.20%, with five-year fixed rates at 60% LTV down by 20bps to 4.19% with a £999 fee. A five-year fix at 85% LTV is reducing to 4.46% and a two-year fix at 85% LTV is down to 4.90%, both with a £999 fee.
Nationwide’s remortgage products are decreasing by up to 0.18%, with the lowest priced five-year fix now at 4.20% up to 60% LTV with a £999 fee. A five-year fix at 75% LTV has reduced to 4.50% fee-free, while at two-year fix at 60% LTV is reducing by 4.57% with a £999 fee.
Nationwide is also reducing selected two, three and five-year switcher rates up to 95% LTV by up to 0.20% with rates starting from 4.06%.
These latest changes continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
Additional borrowing rates are being cut by up to 0.19% on two, three and five-year fixed products up to 90% LTV, with rates starting from 4.06%.
Henry Jordan, Nationwide’s Director of Home, said: “We’re making further cuts across our fixed mortgage range in support of all segments of the market and to ensure that Nationwide continues to be front of mind for those looking to buy their first home, move to their next or who want to switch to a new deal.”
