"We are also maintaining our existing mortgage member pricing pledge meaning our switcher products will be the same or lower than remortgage equivalents."
Nationwide Building Society is reducing rates across its mortgage range by up to 0.60% from tomorrow, Friday 6th January.
First-time buyer products will see the largest cuts of up to 0.60% across two, three and five-year fixed rates up to 90% LTV.
At 60% LTV, two-year fixed rates now start at 4.89% and five-year fixed rates at 4.44%, both with a £999 fee.
A five-year fixed rate at 85% LTV has been reduced by 60bps to 4.84% with no fee and a two-year fix is down by 55bps to 5.09% with a £999 fee.
Remortgage products have fallen by up to 0.55% across two, three and five-year fixed rates up to 90% LTV. Highlights include a five-year fixed rate at 60% LTV which now starts at 4.43% with a £999 fee. The largest reductions are to a three-year fixed rate at 80% LTV, down to 4.99%, and a five-year fix at 90% LTV, now 4.89%, both with a £999 fee.
New customers moving home will also see reductions of up to 0.60%. Five-year fixed rates have been lowered to 4.44% at 60% LTV with a £999 fee and to 4.79% at 85% with no fee. A two-year fix at 80% LTV has also been cut to 4.99% with a £999 fee, a reduction of 55bps.
For the Society’s existing members moving home, Nationwide is also reducing rates by up to 0.60% on two, three and five-year fixed rate products up to 90% LTV. Shared equity rates up to 80% LTV are also being reduced by up to 0.60%.
Nationwide is also reducing rates on selected switcher products by up to 0.06%. This continues the Society’s existing mortgage member pricing pledge meaning Nationwide’s switcher products will be the same or lower than remortgage equivalents.
For those looking to borrow more, Nationwide is also reducing selected two, three and five-year fixed rates on its additional borrowing range by up to 0.06%, while the rate on green additional borrowing is also being reduced by 0.10% to 4.39%.
Henry Jordan, director of mortgages at Nationwide Building Society, said: “We’re making these latest rate reductions to ensure the Society remains front of mind for all borrowers, especially those where rate is a key consideration. So, whether it’s a first-time buyer, someone purchasing their next home or those looking to remortgage once their current deal comes to end, Nationwide’s mortgage range has competitive rates across all loan-to-values. We are also maintaining our existing mortgage member pricing pledge meaning our switcher products will be the same or lower than remortgage equivalents.
“These latest changes, coupled with our existing schemes such as Helping Hand and Deposit Unlock, show our support for the housing market and all types of borrowers remains as a strong as ever and what people come to expect from the world’s largest building society.”
