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Nationwide increases new business mortgage rates

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  • 25/04/2023
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Nationwide increases new business mortgage rates
Nationwide has increased rates across select mortgage products for new borrowers moving home by as much as 25 basis points.

This includes its two-year fixed mortgage at 60 per cent loan to value (LTV) with a £999 fee, which has gone up from 4.39 per cent to 4.64 per cent. The option with no fee has risen from 4.64 per cent to 4.89 per cent. 

The three-year fix at the same tier with a £999 fee has increased by 0.15 per cent to 4.44 per cent, while the fee-free option has gone up by 0.2 per cent to 4.84 per cent. 

Also at 60 per cent LTV, the five-year fixed rate with a £999 fee has risen from 3.99 per cent to 4.19 per cent, and the alternative with no product fee has increased from 4.14 per cent to 4.34 per cent. 

 

Flat rates across tiers

Nationwide has increased the rates at 75 per cent LTV to match the 60 per cent LTV options across the two, three and five-year fixes. 

Similarly, the rates for a two-year fix, with or without a fee, at 80 and 85 per cent LTV are also the same as the 60 and 75 per cent options. 

Nationwide has standardised rates elsewhere, for example, the fee-free two-year fix options between 60 to 90 per cent LTV have flat rates of 5.24 per cent, while at 95 per cent LTV, the rate is unchanged at 5.64 per cent. 

The mutual’s two-year fixed remortgage deals with no fee from 60 to 85 per cent LTV have a flat rate of 4.94 per cent, while the 90 per cent LTV option has stayed the same at 5.14 per cent. 

Elsewhere, it increased its two-year tracker remortgage by 0.1 per cent at 60 and 75 per cent LTV to 4.59 per cent. 

Changes apply from 26 April. 

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