The changes include:
- Fee-friendly products - mortgages with no product fees will be introduced across the entire range, giving borrowers more choice and flexibility
- Tracker rates at 70% LTV for house purchase and remortgage customers will be reduced by up to 45 basis points
- Remortgage rates will be aligned to the Society’s house purchase rates. Selected remortgage rates will be reduced as a result
- Average rate change across the mortgage range: -0.18%
Existing mortgage customers who take a new Nationwide mortgage when either moving home or switching at the end of their deal get the same deal as new customers, plus can receive £300 cash-back1.
The remortgage product range from Nationwide will include the following:
Two-year tracker rate available at 2.49% (up to 70% LTV)
- £900 product fee, £99 booking fee (payable upfront and non-refundable)
- No standard valuation or standard legal fees
- New customers can borrow up to 85% LTV
Three-year fixed rate available at 3.69% (up to 70% LTV)
- £900 product fee, £99 booking fee (payable upfront and non-refundable)
- No standard valuation or standard legal fees
- New customers can borrow up to 85% LTV
Five-year ‘Flexible Mortgage’ tracker rate available at 2.75% (up to 70% LTV)
- Exclusively available to main FlexAccount customers2
- No product fee, £99 booking fee (payable upfront and non-refundable)
- Unlimited overpayments, no Early Repayment Charges
- No standard valuation or standard legal fees
- New customers can borrow up to 85% LTV
Andy McQueen, mortgages director at Nationwide, said:
“We are not only improving rates on many deals but also building on the success of our fee-friendly remortgage products by introducing options with no product fees to our entire mortgage range, benefiting those who prefer lower upfront costs with their mortgage.
“Our tracker mortgages include the option to ‘switch & fix’ deal at a later date, where these customers can move onto a fixed rate from our switch & fix range midway through their tracker deal without incurring Early Repayment Charges3.
"So if you’re not sure what the Bank of England Base Rate will do next but you don’t want to fix just yet, consider one of our trackers, knowing that you can fix at a later date.”
Special offers continue to be available:
- Remortgage customers receive free standard legal and standard valuation fees
- First time buyers can receive a £500 product fee discount on selected fixed and tracker rates
