Nationwide cuts first-time buyer and high LTV deals

Nationwide cuts first-time buyer and high LTV deals

 

In its first-time buyer range its two and five-year fixed rate at 95 per cent loan to value (LTV) have been cut by 0.2 per cent and 0.15 per cent respectively to 3.39 per cent. The five-year fixed rate comes with a £999 fee.

Its two-year fixed rate at 90 per cent LTV has fallen by 0.2 per cent to 2.24 per cent. It also comes with a £999 fee.

For new customers moving home, rates have been reduced by up to 0.2 per cent between 80 per cent and 95 per cent LTV.

Its two-year fixed rate at 90 per cent LTV has been cut by 0.16 per cent to 2.18 per cent, and its five-year fixed rate has decreased by 0.15 per cent to 2.79 per cent.

At 95 per cent LTV, the five-year fixed rate has gone down by 0.2 per cent to 3.39 per cent. All deals are subject to a £999 fee.

On the remortgage side, its five-year fixed rate at 85 per cent LTV has been cut from 0.2 per cent to 2.34 per cent, and its two-year fixed rate has fallen by 0.15 per cent to 2.29 per cent.

The lender is also reducing rates by up to 0.34 per cent for homebuyers and first-time buyers using shared equity, with rates now starting from 1.2 per cent for two-year fixed rates and 1.3 per cent for five-year fixed rates.

Henry Jordan, Nationwide’s mortgages director, said: “Nationwide remains as committed as ever to helping people move into their first home or onto their next. We are making these rate cuts to ensure we continue to be one of the most competitive lenders around at a time when demand remains high.