The changes to Nationwide’s mortgage rates come into force from 22 August.

For new customers moving home, reductions of up to 0.26% across two-, three-, five- and 10-year fixed mortgage rates up to 95% loan to value (LTV) will be made.

For instance, its five-year fixed rate at 75% LTV with no fee will go down by 0.26% to 4.09%, while its two-year fixed rate at 60% LTV with a £999 fee will decrease by 0.2% to 4.15%.

The firm will also offer a five-year fixed rate at 60% LTV with a £1,499 fee at 3.78%, a decrease of 0.05%, along with its £999 fee version, which has fallen by the same amount to 3.83%.

Within its existing customer moving home range, cuts of up to 0.26% will apply across its two-, three-, five- and 10-year fixed mortgage rate products up to 95% LTV, with sub-4% deals available.

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For first-time buyers, decreases of up to 0.25% will be made across two-, three-, five- and 10-year fixed mortgage rate deals up to 95% LTV, including its five-year fixed rate at 60% LTV with a £1,499 fee, which will reduce by 0.15% to 3.99%.

On the remortgage side, reductions of up to 0.25% will be applied across two-, three-, five- and 10-year fixed mortgage rate products up to 90% LTV.

This includes its five-year fixed rate at 60% LTV with a £999 fee, which will decrease by 0.21% to 3.99%.

Nationwide is also reducing selected two-, three- and five-year switcher mortgage rates up to 95% LTV by up to 0.25%, with rates starting from 3.94%.

Additional borrowing rates are being cut by up to 0.2% on two-, three- and five-year fixed products up to 90% LTV, with rates beginning from 3.94%.

Henry Jordan, Nationwide’s director of home, said: “We’re making cuts across the majority of our fixed rate mortgage range to support all buyer types across the housing market.”

Nationwide last dropped rates last week, with rates starting from 3.83%.

 

TSB reduces first-time buyer and homemover mortgage rates

Mortgage lender TSB has reduced first-time buyer and homemover mortgage rates by up to 0.25%, effective from 21 August.

The firm will cut two-year fixed first-time buyer and homemover mortgage rates by up to 0.2%, with pricing beginning from 4.34%.

Three-year fixed first-time buyer and homemover mortgage rates from 60% to 75% LTV and 85% to 90% LTV will decrease by up to 0.24%. Rates start from 4.43%.

Five-year fixed rate first-time buyer and homemover rates at 80% to 90% LTV will go down by up to 0.25%. Pricing begins from 4.54%.

TSB last lowered rates just last week, with cuts of up to 0.35%.