Nationwide cuts switcher rates

Lender also reduces additional borrowing rates

Nationwide cuts switcher rates

Nationwide Building Society has announced that it is reducing switcher rates by up to 31 basis points across its two-, three- and five-year fixed rate products up to 95% loan-to-value (LTV).

The new rates, available from tomorrow, December 1, include a two-year fix at 60% LTV with a £999 fee, rate reduced by 17bps to 4.82%; a three-year fix at 75% LTV with a £999 fee, rate reduced by 31bps to 4.89%; and a five-year fix at 95% LTV with a £999 fee, rate reduced by 30bps to 5.30%.

The high street lender said it is also reducing additional borrowing rates by up to 31bps.

Full details of all rates included in the latest reprice can be found on its intermediary website.

These latest changes continue our existing mortgage customer pricing pledge, which promises that switcher product rates will be the same or lower than the remortgage equivalents,” said Henry Jordan, director of home at Nationwide Building Society. “This is the tenth reduction in rates we have made in four months, and means we continue to offer some of the most competitive rates on the market.”

Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.