Nationwide slashes first-time buyer and homemover rates by up to 0.25%

The rate cuts came into effect on 21 April, with the lender’s lowest mortgage coming to 3.89% at 60% loan to value (LTV) with a £1,499 fee on both a two- and five-year term.

Nationwide is the latest lender to bring out a sub-4% deal, with Halifax, Yorkshire Building Society and Santander adding sub-4% deals in the last few weeks.

For existing and new customers moving home, cuts of up to 0.25% have been on two-, three- and five-year fixed rates up to 95% LTV.

Its two-year fixed rate at 60% LTV with a £999 fee will fall by 0.25% to 3.94%, while its equivalent five-year fixed rate will also receive the same rate.

Its two-year fixed rate at 85% LTV with a £999 fee will decrease by up to 0.09% to 4.4%.

Sponsored

Welcome to the future: how collaboration is driving the shift to digital home buying

Sponsored by Halifax Intermediaries

Within its first-time buyer range, reductions of up to 0.24% will be made on two- and three-year fixed rates up to 95% LTV.

For example, its two-year fixed rate at 60% LTV with a £999 fee will go down by up to 0.2% to 4.14%.

Its two-year fixed rate at 90% LTV with a £999 fee will decrease by around 0.1% to 4.72%.

Henry Jordan, Nationwide’s director of home, said: “We know that rate is an important factor for borrowers looking to buy their first home or move onto their next. These latest cuts should put Nationwide firmly on the radar for first-time buyers and homemovers as we continue to be one of the most competitively priced lenders in the market.”