Nationwide reduces fixed rate mortgages

The lender is cutting its full range of 95% LTV 2-year fixes, which now stand at 3.69% with a £999 fee and 4.09% with no fee.

Nationwide reduces fixed rate mortgages

Nationwide Building Society will cut its 2, 3 and 5-year fixed rate mortgages by up to 0.20% from tomorrow.

The lender is cutting its full range of 95% LTV 2-year fixes, which now stand at 3.69% with a £999 fee and 4.09% with no fee.

Henry Jordan, head of mortgages at Nationwide, said: “We are reducing rates across the range of fixed rate products, for those with both large and small deposits.

"As well as offering additional member benefits to first time buyers, home movers and those remortgaging to the society, we are extending member choice as well as offering a wide range of competitive mortgage rates.”

Nationwide’s 60% LTV 2-year fix will start from 1.29% with a £999 fee and 1.69% with no fee.

Meanwhile its 3-year fixed rate products will start at 1.59% with a £999 fee and 1.89% with no fee with a 40% deposit.

For its 5-year fixed rate product range rates start at 1.89% with a £999 fee and 2.09% with no fee at 60% LTV, while to 95% LTV rates start at 4.49% and 4.69%.

All standard mortgage valuations are now fee-free, while first-time buyers receive a £500 cashback to help with the cost of moving.

Existing mortgage customers get a 0.10% discount on the new customer rate, as well as a £250 cashback for mortgage customers switching to a new deal or moving home.