Nationwide cuts fixed mortgage rates

Nationwide cuts fixed mortgage rates

 

The changes apply to two, three, five and 10-year fixed mortgages up to 80 per cent loan to value (LTV). 

For first-time buyers, purchasers and those with shared equity mortgages, five-year fixes at 75 per cent LTV will be reduced by one basis point to 2.09 per cent with a £999 fee and 2.29 per cent with no fee. 

For remortgagors, a two-year fixed at 60 per cent LTV has seen a 0.05 per cent cut to 1.19 per cent with a £1,499 product fee, while the fee-free option has a rate of 1.74 per cent. 

Meanwhile, a five-year fixed remortgage at 75 per cent LTV has been reduced by 0.2 per cent to 1.69 per cent with a £999 fee and 1.99 per cent with no fee. 

Furthermore, the mutual’s two, three and five-year switcher products at 60 per cent LTV will be reduced by 0.05 per cent with rates starting from 1.19 per cent. 

The 10-year switcher product at 60 per cent, 75 per cent and 80 per cent LTV will be reduced by up to 0.20 per cent, and rates will start from 1.99 per cent. 

Existing borrowers making use of Nationwide’s Moving Home and Further Advances range will also see reductions of up to 0.20 per cent, with rates now varying from 1.29 per cent to 2.29 per cent.  

Henry Jordan, Nationwide’s director of mortgages, said: “We are making further rate reductions to make sure we remain one of the most competitive providers in the market at a time when demand remains high.  

These follow on from our recent reductions at 60 per cent LTV and highlight that Nationwide continues to support people looking to take advantage of the stamp duty holiday with attractive mortgage deals.”