The new rates include reductions of up to 0.20% across selected two and five-year fixed rate products for first time buyers. For borrowers with a 10% deposit, the two-year fixed rate 90% mortgage has been reduced by 0.15% to 3.24%, with no fee.
At 85% LTV both a two- and five-year fix have been reduced to 2.49% and 3.04% respectively.
A selection of changes to products for new customers moving home have also been made, with reductions of up to 0.15% across selected two and five-year fixed rate products.
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.10% on selected two and five-year products up to 90% LTV.
Nationwide is also amending selected further advance, family deposit mortgage, shared equity and switcher rates.
The changes take effect from tomorrow (Wednesday 26th May).
Henry Jordan, Nationwide’s Director of Mortgages, said:
“These latest rate reductions once again demonstrate our continued support for both first-time buyers and home movers, following on from the recent launch of our Helping Hand and 95% mortgage range. With these competitive rates, we are making sure that, as the UK’s second largest lender, Nationwide remains one of the best options around for all types of borrowers.”
