This brings its lowest rate to 3.8%, applying to a two-year fix at 60% loan to value (LTV) with a £1,499 fee, representing a cut of 0.07%. This product is open to existing and new borrowers moving home.
There is also a fee-free two-year fix at 90% LTV, which has been reduced by 0.16% to 4.52%, and a five-year fix at 95% LTV with a £999 fee now priced at 4.81% after a cut of 0.13%.
Also for new and existing homemovers, a three-year fix at 80% LTV with a £999 fee has been cut by 0.1% to 4.24%.
For first-time buyers, Nationwide has reduced the rate of a three-year fix at 85% LTV with a £999 fee by 0.15% to 4.34%, and a two-year fix at 75% LTV with a £999 fee by 0.1% to 4.09%.
The mutual has also reduced the price of a fee-free three-year fix at 95% LTV to 5.21%, a reduction of 0.18%.
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Further, the first-time buyer two-year fix at 60% LTV with a £1,499 fee has been reduced by 4.03% to 3.99%.
Changes will apply from 19 September.
Carlo Pileggi, senior manager – mortgages at Nationwide, said: “We regularly review our rates because it’s important that, as Britain’s biggest building society, we maintain a competitive position in the market.
“These latest changes will be particularly good news for those looking to move home, with rates now starting from 3.8%, and for first-time buyers as we make a wide range of cuts across those product ranges.”
West Brom BS cuts shared ownership mortgage rates and reintroduces three-year fixes
West Brom Building Society has cut rates across its shared ownership mortgages.
This includes a reduction of 0.26% to its two-year deal at 95% LTV, now priced at 4.68%, while another has been cut by 0.03% to 5.11% and now offers £500 cashback.
West Brom Building Society has also launched a three-year fix at 90% LTV wth a rate of 4.69%.
John Phillips, product manager at the West Brom, said: “Shared ownership is a core part of our purpose-led lending, and we remain committed to providing competitive products that make a real difference for customers. When we make changes to our products, we take on board our broker feedback, which is important in helping us understand what works best for our customers.
“With demand remaining strong among borrowers with smaller deposits, and by refining our shared ownership range, we’re making sure we can continue to meet that need whilst also responding to the wider market environment.
“We’ll continue to review our product range to ensure it remains aligned with the needs of our customers.”
