For first-time buyers and remortgage products, rates have been cut by up to 0.7 per cent. This includes a two-year fixed rate with £999 fee at 60 per cent LTV which has fallen by 0.35 per cent to 5.54 per cent.
Its no-fee three-year fixed rate at 95 per cent LTV will fall by 0.7 per cent to 5.99 per cent, and its five-year fixed rate with £999 fee at 80 per cent LTV will go down by 0.1 per cent to 5.29 per cent.
Its 10-year fixed rate at 95 per cent LTV will decrease by 0.2 per cent to 5.89 per cent and its two-year tracker rate at 60 per cent LTV will fall by 0.35 per cent to 3.69 per cent. Both come with a £999 fee.
On the remortgage side, rates have been cut by up to 0.4 per cent, including its two-year fixed rate with £999 fee at 60 per cent LTV which will go down by 0.3 per cent to 5.54 per cent.
Nationwide’s no-fee three-year fixed rate at 90 per cent LTV has been reduced by 0.4 per cent to 5.99 per cent.
Its five-year fixed rate at 80 per cent LTV has gone down by 0.1 per cent to 5.29 per cent, whilst its two-year tracker at 60 per cent LTV has decreased by 0.3 per cent to 3.69 per cent. Both come with a £999 fee.
New customers moving home product rates have been cut by up to 0.55 per cent. Its two-year fixed rate at 60 per cent LTV has reduced by 0.35 per cent to 5.54 per cent, whilst its five-year fixed rate at 80 per cent LTV will decrease by 0.1 per cent to 5.29 per cent. Both come with a £999 fee.
Its 10-year fixed rate at 95 per cent LTV has fallen by 0.15 per cent to 5.89 per cent and its two-year tracker at 60 per cent LTV has decreased by 0.25 per cent to 3.69 per cent. Both are subject to a £999 fee.
Its no-fee three-year fixed rate has decreased by 0.55 per cent to 5.99 per cent.
Existing members moving home rates will go down by up to 0.55 per cent, and shared equity rates will fall by 0.35 per cent.
Henry Jordan, Nationwide’s director of mortgages, said: “Following recent uncertainty, markets have stabilised and swap rates have continued to fall. This allowed us to cut rates for existing mortgage members switching at deal maturity earlier this month and we are now reducing new lending.
“These changes apply across our mortgage range, but the largest reductions have been made on higher loan to value mortgages, which will benefit first-time buyers looking to get onto the property ladder.”
Bluestone Mortgages reduces three and five-year fixed rates
Bluestone Mortgages will cut three and five-year fixed rates in its product range by up to 0.8 per cent, to “provide further support to a growing number of customers who do not fit the ‘vanilla’ profile”.
Rates start at 7.65 per cent and lending is available up to 85 per cent LTV. The deals will be available for all new fully submitted applications.
Reece Beddall, sales and marketing director at Bluestone Mortgages, said: “Despite the ongoing inflationary pressures, we are committed to providing our brokers and their customers with the support they need through these challenging times and to ultimately help them climb onto or up the property ladder.”
