Nationwide will reduce fixed rates for existing members by as much as 1.3 per cent from tomorrow, with two, three, five and 10-year fixed rates available.
Products include two, three and 10-year fixed rates start at 4.84 per cent with £999 fee. This is available across all loan to value (LTV) tiers.
Five-year fixed rates with £999 fee start from 4.64 per cent and are also available across at all LTVs.
Additional borrowing rates have decreased by up to one per cent and green additional borrowing rates will be cut by 0.3 per cent.
Nationwide: ‘Markets have stabilised and swap rates falling’
Henry Jordan, Nationwide’s director of mortgages, said: “Following recent uncertainty, markets have stabilised and swap rates are falling, which allows us to reduce switcher rates to levels towards those seen in September.
“All existing mortgage members are now able to access rates below five per cent, regardless of product term or LTV. These changes will help our members to manage their payments when current deals end and is one of the ways our mutual status allows us to support them through the high cost of living [crisis].”
The mutual added that it would reduce the rate switch window from six months to five months from 1 November and to four months from 1 December.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
