Nationwide Building Society has cut rates across the majority of its fixed rate mortgages by up to 0.20 basis points and across tracker rate mortgages by up to 0.10 basis points.
New rates include:
Five-year fixed rate available at 3.29% (70% LTV) for new customers (3.19% for existing customers)
- £900 product fee, £99 booking fee (payable upfront and non-refundable)
- £400 discounted product fee for first-time buyers
- No product fee rates are also available
Three-year fixed rate available at 3.09% (70% LTV) for new customers (2.99% for existing customers)
- £900 product fee, £99 booking fee (payable upfront and non-refundable)
- £400 discounted product fee for first-time buyers
- No product fee rates are also available
The changes include a reduction to NewBuy mortgages of up to 0.20 basis points, ensuring the rates are at least 0.50 basis points lower than equivalent standard Nationwide mortgages at 95% Loan to Value. For example:
Three-year fixed rate NewBuy mortgage available at 5.29% (95% LTV) for new customers (5.19% for existing customers) or
Standard three-year fixed rate mortgage available at 5.79% (95% LTV) for new customers (5.69% for existing customers)
- £900 product fee, £99 booking fee (payable upfront and non-refundable)
- £400 discounted product fee for first-time buyers
- No product fee rates are also available
Tracie Pearce, Nationwide’s head of mortgages, said: “We’re particularly pleased to be able to reduce rates across the board, so everyone benefits, regardless of LTV and whether their deposit is 5% or 30%. This is the second reduction we’ve made to our rates in as many weeks and we’ve maintained the additional discount for existing customers as a reward for their loyalty.”