The industry price wars continue to rage, with Nationwide announcing rates will be cut by up to 20 basis points across its two-, three- and five-year fixed rate home loans.
The mutual’s lowest mortgage will now start at 3.83%, which will come into effect from August 14. The changes include:
New customers moving home — reductions of up to 16bps across two, three, five-year fixes up to 95% loan to value, including:
New customers moving home: reductions of up to 0.16% across two, three, five-year fixed rate products up to 95% LTV, including:
Five-year fixed rate at 60% LTV with a £1,499 fee is 3.83% (reduced by 0.16%)
Five-year fixed rate at 60% LTV with a £999 fee is 3.88% (reduced by 0.16%)
Five-year fixed rate at 85% LTV with a £999 fee is 4.37% (reduced by 0.13%)
Two-year fixed rate at 60% LTV with a £999 fee is 4.35% (reduced by 0.11%)
Existing customers moving home: reductions of up to 0.16% across two, three, five-year fixed rate products up to 95% LTV, including:
Five-year fixed rate at 60% LTV with a £1,499 fee is 3.83% (reduced by 0.16%)
Five-year fixed rate at 60% LTV with a £999 fee is 3.88% (reduced by 0.16%)
Five-year fixed rate at 85% LTV with a £999 fee is 4.37% (reduced by 0.13%)
Two-year fixed rate at 60% LTV with a £999 fee is 4.35% (reduced by 0.11%)
First-time buyers: reductions of up to 0.20% across two, three, five-year fixed rate products up to 95% LTV, including:
Five-year fixed rate at 60% LTV with a £999 fee is 4.19% (reduced by 0.20%)
Five-year fixed rate at 85% LTV with a £999 fee is 4.46% (reduced by 0.09%)
Two-year fixed rate at 85% LTV with a £999 fee is 4.90% (reduced by 0.05%)
Remortgage: reductions of up to 0.18% across two, three, five-year fixed rate products up to 90% LTV, including:
Five-year fixed rate at 60% LTV with a £999 fee is 4.20% (reduced by 0.12%)
Five-year fixed rate at 75% LTV with no fee is 4.50% (reduced by 0.18%)
Two-year fixed rate at 60% LTV with a £999 fee is 4.57% (reduced by 0.13%)
Switcher: Nationwide is also reducing selected two, three and five-year switcher rates up to 95% LTV by up to 0.20% with rates starting from 4.06%.
Nationwide director of home Henry Jordan, says: “We’re making further cuts across our fixed mortgage range in support of all segments of the market and to ensure that Nationwide continues to be front of mind for those looking to buy their first home, move to their next or who want to switch to a new deal.”
