Nationwide Building Society’s new rates include its two-year fixed remortgage products up to 60 per cent LTV seeing reductions of up to 0.20 per cent to 1.29 per cent with a £999 fee.
Its two-year fixed products up to 90 per cent LTV available for house purchase and first-time buyers have been reduced by 0.05 per cent to 1.84 per cent and come with a £999 fee.
Among its five-year products, rates for remortgage available up to 60 per cent LTV are reducing by up to 0.20 per cent to 1.54 per cent with a £999 fee while the five-year fixed rates for house purchase and first-time buyers available up to 90 per cent LTV are reducing by 0.05 per cent to 2.24 per cent with a £999 fee.
The society also withdrew all five-year trackers at close of business of Wednesday 8 January.
Henry Jordan (pictured), Nationwide’s director of mortgages, said: “The mortgage market remains really competitive and many borrowers continue to like the security of fixing their mortgage repayments.
“These reductions demonstrate our commitment to offering competitive rates across the range of LTVs supporting borrowers no matter how much deposit they have.”
Hinckley & Rugby cuts rates on high LTV fee-free cashback mortgage
Hinckley & Rugby Building Society has cut the interest rate on its fee-free five-year fixed rate mortgage at up to 95 per cent LTV which comes with £1,000 cashback.
The charging rate for the fixed period has been reduced from 3.29 per cent to 3.10 per cent, with zero application or completion fees. Valuations are free too, for properties valued up to £1m.
Early repayment charges are included, and they reduce from five per cent in year one to one per cent in year five. The minimum advance is £150,000.
Carolyn Thornley-Yates, head of sales and marketing at Hinckley & Rugby, said: “The combination of a great reduced interest rate, £1,000 cashback on completion and no fees makes this mortgage a must-look for first time buyers in particular.
“We are seeing increased demand for longer fixes from first timers, and the fee-free aspect is designed to help buyers who wish to put their savings towards their deposit and move into their first owned home, with £1,000 cashback to help them settle in.”