It announced cuts earlier in August to a range of fixes amid softening swap rates.
Effective tomorrow, Nationwide has cut rates across its first-time buyer, homemover and remortgage ranges on selected two-, three-, and five-year fixed rate products.
Nationwide has cut rates by up to 10bps for first-time buyers across selected two-, three- and five-year fixed rate mortgages up to 95% loan to value (LTV).
This included its five-year fixed rate deal at 90% LTV with a £999 fee, reduced by 7bps to 4.82%.
Its three-year fixed rate mortgage at 60% LTV with no fee has been reduced by 9bps to 4.99%, and its two-year fixed rate product at 95% LTV with no fee has been reduced by 10bps to 5.34%.
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For existing and new customers moving home, Nationwide has reduced rates by up to 10bps across selected two-, three- and five-year fixed rate products up to 95% LTV. Among the changes, its five-year fixed rate mortgage at 90% LTV with a £999 fee has fallen by 7bps to 4.81%, while its two-year fixed rate deal at 60% LTV with a £1,499 fee has been reduced by 4bps to 4.48%.
Meanwhile, remortgage rates have been reduced by up to 15bps across selected two-, three- and five-year fixed rate products up to 90% LTV. This includes a three-year fixed rate mortgage at 60% LTV with no fee, reduced by 15bps to 4.94%.
Carlo Pileggi, head of mortgage products at Nationwide, said: “We’re pleased to announce a further set of rate cuts across our fixed mortgage range, building on the cuts we made at the beginning of August. These latest changes bring our lowest mortgage rate back below 4.5% for new and existing borrowers moving home, whilst also maintaining our support for first-time buyers with smaller deposits and those remortgaging.”
