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Nationwide cuts rates by up to 0.5%

  • 30/10/2017
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Nationwide cuts rates by up to 0.5%
Nationwide is cutting rates on fixed-term mortgages by up to 0.5% on deals at a range of loan-to-value (LTV) and lengths.

The move comes as many lenders are increasing rates in anticipation of a rise in the Bank of England Base Rate later this week.

The lender’s two-year 60% LTV product is being reduced by 0.15% and starts at 1.29% with a £999 fee and 1.69% with no fee, while the 90% LTV version is being reduced to 1.99% with a £999 fee and 2.39% with no fee.

Its five-year mortgage up to 60% LTV starts at 1.79% with a £999 fee and 1.99% with no fee while ten-year fixed-rate mortgages are being reduced by up to 0.50%, starting at 2.49% for the 60% LTV product with a £999 fee and 2.59% with no fee.

Tracker rates and shared equity products are also being reduced.

Nationwide director of mortgages Henry Jordan said: “As the likelihood of a rise in the Bank of England Base Rate increases, mortgage holders will be considering their options. The changes announced today offer improved choices across our range and are equally available to new customers and to existing members switching product with us.”

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