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Nationwide cuts rates and adds £1,499 fee range

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  • 23/02/2021
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Nationwide cuts rates and adds £1,499 fee range
Nationwide is reducing rates on dozens of mortgages across its range, including at the highest loan to value (LTV) levels.

 

It is also introducing a range of products with a £1,499 fee at 60 per cent LTV.

The rate reductions include up to 20 basis points (bps) off selected two and five-year fixed rate house purchase deals.

For example, the two-year fix at 60 per cent LTV with no fee has been reduced by 20bps to 1.54 per cent, with the 90 per cent LTV equivalent trimmed by 5bps to 3.44 per cent.

And the five-year fix at 85 per cent LTV with £999 fee is down by 10bps to 2.84 per cent.

First-time buyer rates have been reduced by up to 10bps on selected two and five-year fixes, including the two-year fix at 90 per cent LTV with a £999 fee reduced by 5bps from to 3.19 per cent.

For remortgaging selected two and five-year fixed rates have been trimmed by up to 5bps including the five-year fix at 60 per cent LTV with a £999 fee reduced to 1.34 per cent.

And the shared equity five-year fix at 75 per cent LTV with no fee is down by 5bps to 2.24 per cent.

Meanwhile, the mutual also launching a trio of new 60 per cent LTV mortgages with a £1,499 fee for house purchase, first-time buyers and existing customers moving home.

The two-year fix is at 1.14 per cent, five-year fix at 1.24 per cent and two-year tracker at 1.29 per cent.

Nationwide director of mortgages Henry Jordan said: “As the country’s second largest mortgage lender, it’s important we demonstrate to all types of borrower that Nationwide continues to offer a wide range of mortgages with some of the most competitive rates on the market.

“That is why we’re making these latest reductions across a variety of LTVs as well as extending our £1,499 fee product to now make it available to first-time buyers and house purchase.”

 

 

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