Nationwide cuts first-time buyer rates by up to 0.25%

Nationwide has rates on selected mortgages across its range, including for first-time buyers, by up to 0.25%.

Related topics:  Mortgages
Rozi Jones
18th March 2021
Natiownide
"The changes are being made across our range meaning all types of borrowers could benefit, whether they are moving home, getting their first home or remortgaging."

The Society has reduced purchase rates by up to 0.20%, with highlights including a five-year fixed rate with no fee at 75% LTV reduced by 0.20% to 1.99%.

First-time buyer rates have reduced by up to 0.25% on selected two and five-year fixes. This includes a five-year fixed rate with no fee at 75% LTV reduced by 0.25% to 2.04%, and a two-year fixed rate with a £999 fee at 90% LTV which is now available at 3.14%.

Remortgage products have seen reductions of up to 0.15% across selected two-year fixed rates, with a two-year fix at 85% LTV reducing by 0.15% to 2.84%.

Nationwide is also adding to its range of £1,499 fee products. Previously, they were only available at 60% LTV but are now available for loans of £275,000 or more across all LTVs up to 90%.

Rates on the Society’s existing customer moving home and further advance ranges will continue to be aligned to the lowest rates Nationwide offers new customers. This range will see reductions of up to 0.05%. On Nationwide’s switcher range, selected rates will be reduced by up to 0.20%, with other rates being increased by up to 0.45%.

Henry Jordan, Nationwide’s director of mortgages, said: “We are reducing our rates again to ensure that we continue to remain one of the best lenders in the market for rate as well as service.

"The changes are being made across our range meaning all types of borrowers could benefit, whether they are moving home, getting their first home or remortgaging.

"The extension of our £1,499 fee product range to all LTV tiers up to 90 per cent also expands the choice available to borrowers with the Society.”

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