It has also slashed selected fixed rates for switchers under its Loyalty Rate Mortgage initiative by up to 0.20%.
The lender’s 60% LTV two-year fixed rate with £999 fee now starts at 1.59% with its 60% LTV five-year fix with a £999 fee reduced starting from 2.29%.
Under Nationwide’s Loyalty Rate Mortgages initiative, the 75% LTV two-year fixed rate with £999 fee now starts at 1.74%. Its 85% LTV five-year fixed rate with £999 fee has now been withdrawn, with the rate under its zero-fee option reduced to 3.44%. Likewise, the 90% LTV five-year fixed rate with £999 fee has also been removed, with its zero-fee option rate cut to 3.94%.
The initiative compares mortgage rates for existing customers with those of its top six high street competitors, guaranteeing to offer the lowest comparative rate for individuals searching for a new deal.
Henry Jordan, head of mortgages at Nationwide, said: “Nationwide continues to offer great value rates to customers, helping them to ensure longer term security for mortgage payments. We are also demonstrating our mutual difference by offering competitive fixed rate deals to new Nationwide mortgage customers, whilst continuing to offer additional discounts for existing mortgage customers and first-time buyers.”
