And the society is now offering its lowest-ever 3 and 5-year fixed rates, starting from 1.99% for new customers. Borrowers with only a 5% deposit will see reductions on Nationwide’s Save to Buy rates, with the 2-year rate with a £999 fee cut by 0.45% to 3.99%.
A number of 2, 3, 5 and 10-year fixed rate deals have been reduced across a range of LTVs. At 60% LTV, Nationwide has launched its lowest ever 3 and 5-year fixed rate deals, with the 3-year fixed rates now starting below 2% and 5 year fixed rates starting at 2.34%.
The new headline 10-year fixed rate deal, available at up to 60% LTV, is reduced to a rate of 2.89% for new mortgage customers, and 2.79% for existing mortgage customers.
The Flexclusive 4-year fixed rate at up to 60% LTV has been cut to 2.14%, a deal only available to Nationwide main current account holders.
A rate discount of 0.10% for existing mortgage borrowers is applied to all new loan deals. Remortgage customers get free standard valuation and the choice between free standard legal work or £250 cashback. First time buyers also pay a reduced fee of £499.
Richard Napier, Nationwide’s director of mortgages and savings, said: “This new range of fixed rate mortgage deals ensures Nationwide remains competitive, including for those with smaller deposits. They are designed to appeal to both first time buyers and those looking to remortgage, offering certainty of mortgage payments while interest rates remain at a historic low.”
“Nationwide continues to cater for customers looking for attractive low rates on longer term fixed rate deals, including a 10-year fixed rate mortgage that is now at an all-time low. We are also responding to customer demand for higher LTV products, such as our Save to Buy mortgage deals for customers with a 5% deposit, with a 2-year fixed rate now under 4% and an offer of up to £1,000 cashback. Across a wide range of requirements, we are helping mortgage customers to access great value deals to match their particular needs.”
