"These latest changes mean borrowers remortgaging to Nationwide can also now access sub-five per cent rates."
Nationwide Building Society is reducing fixed remortgage rates by up to 0.25% and selected tracker rates by up to 0.40%.
These latest reductions mean Nationwide is now offering sub-five per cent rates on its residential range of five-year fixed rates for borrowers looking to remortgage to Nationwide – with rates starting at 4.99%.
Remortgage rates have reduced by up to 0.40% across two, three and five-year fixed rates and two-year tracker products up to 90% LTV. A five-year fix at 60% LTV now starts at 4.99%, with a three-year fix at 60% LTV reducing to 5.49% and a two-year fix at 75% LTV down to 5.52%, all with a £999 fee. The largest reduction is to a two-year tracker rate at 80% LTV, down by 40bps to 6.34% with no fee.
For new customers moving home, rates have reduced by up to 0.39% across two-year tracker products up to 95% LTV. Two-year trackers now start from 5.99% at 60% LTV and 6.22% up to 85% LTV, both with no fees.
First time buyer rates are down by up to 0.40% across two-year tracker products up to 95% LTV, starting from 6.14% at 60% LTV and 6.19% at 75% LTV, both fee-free.
Nationwide is also reducing two-year tracker rates for existing members moving home by up to 0.39%, while tracker rates for additional borrowing are reducing by up to 0.30%.
Henry Jordan, Director of Home at Nationwide Building Society, said: “Last week, we moved to offer sub-five per cent rates for first-time buyers and those looking to move to their next home. These latest changes mean borrowers remortgaging to Nationwide can also now access sub-five per cent rates.”
