Nationwide is cutting rates by up to 0.30% on selected two, three, five and ten-year fixed rate and two-year tracker products across its mortgage range.
Available from tomorrow, Nationwide’s lowest mortgage rate now stands at 3.84%, which is available to existing and new customers who are looking to move to a new home on both two-year and five-year fixed rate products.
For the first time since September 2024, Nationwide is also offering sub-4% rates for first-time buyers. The lowest first-time buyer rate is 3.94% on a two-year fixed rate product at 60% LTV with a £1,499 fee. First-time buyers can also secure a rate of 3.99% on the same 60% LTV two-year fixed rate but with a lower £999 fee.
Rates will also be reduced for first-time buyers with smaller deposits, including cuts of up to 0.30%. Nationwide’s five and ten-year fixed rate products also come with its Helping Hand mortgage boost, which enables eligible first-time buyers to borrow up to six times their income, up to 95% LTV.
As part of the latest reductions, remortgage and switcher rates have also seen reductions of up to 0.20%.
These latest changes also continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
Carlo Pileggi, senior mortgages manager at Nationwide, said: “We’re pleased to be able to make our third rate cut in three weeks as we strive to remain one of the most competitive lenders in the market. This latest round of changes includes us offering sub-4% rates for first-time buyers, as well as reducing rates across our Helping Hand mortgages, which enable eligible first-time buyers to borrow up to six times their income up to 95% LTV.”
