Starting tomorrow, Nationwide Building Society is reducing selected mortgage rates by up to 30bps, with rates set to start from 4.18%.
Nationwide announced that new homemovers will be able to claim reductions of up to 0.20% across two-, three- and five-year fixed rate products up to 85% LTV.
Two-year fixed rate at 60% will see the largest reduction, moving to 4.59% with a £1,4999 fee.
Five-year fixed rates will lower to 4.18% at 60% LTV with a £1,499 fee and to 4.45% at 75% with a £999 fee.
Additionally, remortgage rates will also be reduced by up to 0.30% on two, three and five-year fixed rate products up to 90% LTV, with a five-year fix at 80% dropping to 4.94% with a £1,499 fee.
Selected two, three and five-year switcher rates at up to 95% LTV will also be reduced by up to 0.16%, with rates starting from 4.34%. This means switcher product rates will be the same or lower than remortgage equivalents.
Nationwide also announced that existing customers moving home will also see reduced rates, with new rates starting from 4.18%. Additional borrowing rates will drop by 0.16% and will now start from 4.34%, whilst also removing all from further advance products.
Henry Jordan, Director of Home at Nationwide Building Society, said: “As one of the UK’s largest lenders, we remain as committed as ever to supporting borrowers. These reductions will ensure that we have some of the most competitive rates on the market for all types of borrowers whether it be first-time buyers, home movers or those looking to remortgage or switch deals.”
