Nationwide lowers mortgage rates

Nationwide Building Society has lowered rates across its mortgage range by up to 20 basis points, effective January 20.

First-time buyers can benefit from reductions of up to 0.15% across two-, three-, and five-year fixed rate products up to 90% loan-to-value (LTV) and two-year trackers up to 85% LTV, including:

• Five-year fixed rate at 60% LTV with a £999 fee - rate reduced by 0.05% to 4.39%  
• Five-year fixed rate at 85% LTV with no fee - rate reduced by 0.15% to 4.69%
• Two-year fixed rate at 60% LTV with a £999 fee - rate reduced by 0.10% to 4.79%
• Two-year fixed rate at 85% LTV with a £999 fee - rate reduced by 0.05% to 5.04%
• Two-year tracker rate at 60% LTV with £999 fee - rate reduced by 0.10% to 3.94%  

For remortgages, reductions of up to 0.20% were made across two-, three-, and five-year fixed rate products and two-year trackers up to 90% LTV, including:

• Five-year fixed rate at 90% LTV with a £999 fee - rate reduced by 0.10% to 4.79%
• Five-year fixed rate at 60% LTV with a £999 fee - rate reduced by 0.09% to 4.34%
• Three-year fixed rate at 80% LTV with a £999 fee - rate reduced by 0.05% to 4.94%
• Two-year tracker rate at 60% LTV with £999 fee - rate reduced by 0.20% to 3.84%

New customers moving home can save with rate reductions of up to 0.20% across two-, three- and five-year fixed rate products up to 90% LTV and two year trackers up to 85% LTV, including:

• Five-year fixed rate at 60% LTV with a £999 fee - rate reduced by 0.10% to 4.34%
• Five-year fixed rate at 85% LTV with no fee - rate reduced by 0.10% to 4.69%
• Two-year fixed rate at 80% LTV with a £999 fee - rate reduced by 0.10% to 4.89%
• Two-year tracker rate at 60% LTV with £999 fee - rate reduced by 0.20% to 3.79%

For the mutual’s existing members moving home, Nationwide slashed rates by up to 0.20% on two-, three-, and five-year fixed rate products, plus two-year trackers up to 90% LTV. Shared equity rates up to 80% LTV were also reduced by up to 0.20%.

Nationwide also cut rates on selected switcher products by up to 0.20%, as a result of its existing mortgage member pricing pledge that switcher product rates will remain the same or lower than remortgage equivalents.

For those looking to borrow more, Nationwide reduced selected two-, three-, and five-year fixed rates and two-year trackers on its additional borrowing range by up to 0.20%, while the rate on green additional borrowing was dropped to 4.34%.

The full details of all rates affected by the latest changes can be found on the building society’s website.

“These latest rate reductions showcase to borrowers that we want to continue offering some of the most competitive mortgage products on the market, as we look to support as many people as possible whether they are buying a new home or remortgaging their existing home,” Henry Jordan (pictured), director of mortgages at Nationwide Building Society, said in a post announcing the rate cuts.

“For those looking at their current property, we’ve also made a number of rate reductions on our additional Borrowing, including our green additional borrowing for those who want to improve the energy efficiency of their home.”

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