The 2 year 60 per cent loan to value fixed rate product now starts at 1.34% with a £999 fee, which is Nationwide’s lowest-ever fixed rate, and 1.74% with no fee.
The 3 year fixed rate mortgage deals start at 1.64% with a £999 fee and 1.94% with no fee. Selected 5 year fixed rates and tracker products for those with larger deposits have also been reduced.
In addition, both 2 year and 5 year fixed rates in the shared equity range, covering all schemes including the Help to Buy Equity Loan scheme, have been reduced. Rates for the 60 per cent LTV shared equity product are reduced by 0.35% to 1.54% with a £999 fee and 1.94% with no fee, while the 5 year fixed rate product have also been cut by 0.35% to 2.29% with a £999 fee and 2.49% with no fee.
Henry Jordan, Nationwide’s Head of Mortgages, said:
“We have introduced a wide selection of highly competitive rates across our range of fixed and tracker products, as well as all of our fixed rate shared equity mortgage deals. We also continue to offer additional benefits for both new and existing customers, such as a £500 cashback for first time buyers to help with moving costs, free standard valuations for all mortgage customers and the flexibility of no Early Redemption Charges for all tracker customers.”
