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Nationwide ups high LTV rates by 0.5 per cent

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  • 17/08/2020
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Nationwide ups high LTV rates by 0.5 per cent
Nationwide Building Society is increasing rates across dozens of its two-, five-, 10-year fixes and two-year tracker mortgages by up to 0.5 per cent.

 

All the mutual’s 85 per cent loan to value (LTV) purchase deals have gone up by 0.5 per cent, and the majority of its 90 per cent LTV deals have increased by the same with a few seeing rises of 0.45 per cent. 

Rates for first-time buyers and home purchases within these tiers now range from 2.74 per cent to 3.59 per cent, including £999 fee, fee-free and tracker options. 

Remortgages at 85 per cent LTV have been increased by 0.5 per cent, with these ranging from 2.64 per cent to 3.39 per cent, including £999 fee, fee-free and tracker options.

Mortgages available to existing customer home movers at 85, 90 and 95 per cent LTV have been increased and these products now vary from 2.64 per cent to 3.99 per cent. 

In this range, two-year tracker mortgages at 85 per cent LTV have rates of 2.84 per cent with a £999 fee and 3.09 per cent with no fee. At 90 per cent LTV, the fee-free two-year tracker has a rate of 3.59 per cent while the £999 fee option is 3.34 per cent. 

The new rates apply from 18 August.

Henry Jordan, Nationwide’s director of mortgages, said: “Ongoing strong demand and the upward trend in fixed and tracker rates across the market means that we continue to see increased numbers of home movers and first-time buyers turn to Nationwide for their mortgage – something that has been further exacerbated by the society being one of the only lenders offering products up to 90 per cent LTV.

“These changes will ensure that we strike the right balance between continuing to process applications and maintaining our high levels of service in what continues to be an uncertain market and economic environment.”

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