Nationwide Building Society will cut rates across its two-, three- and five-year fixed-rate products by up to 38 basis points from tomorrow (9 November) — its lowest rate will start at 4.64%.
Highlights of its reductions include:
New customers moving home
- Five-year fixes rate at 60% LTV with a £999 fee is 4.64%,reduced by 10bps
- Two-year fixes at 60% LTV with a £999 fee is 4.99%, reduced by 25bps
- Five-year fixes at 85% LTV with a £999 fee is 4.94%, reduced by 16bps
First-time buyers
- Five-year fixes at 60% LTV with a £999 fee is 4.67%, reduced by 17bps
- Two-year fixes at 90% LTV with a £999 fee is 5.72%, reduced by 18bps
Remortgages
- Three-year fixes at 60% LTV with a £999 fee is now 5.08%, reduced by 21bps
- Three-year fixes at 80% LTV with no fee is now 5.72%, reduced by 38bps
The lender will also reduce rates across its switcher range by up to 25bps, with rates starting from 4.64% on five-year fixed products, 4.94% for three-year fixed products and 4.99% for two-year fixed products.
The firm will also cut rates on additional borrowing and for existing customers moving home by up to 25bps.
Nationwide Building Society director of home Henry Jordan says: “We’re making further rate cuts across our fixed-rate mortgage range to ensure we continue to cement our position as one of the most competitive lenders in the market.
“Over the last three months, we have reduced rates eight times and, over that period, that has meant our rates have fallen by up to 1.39% as we look to maintain our support for potential and existing homeowners, as well as brokers, by offering attractively priced products.”
