The Nationwide Building Society has reduced rates across its fixed rate range, including two, three, and five-year fixed mortgage products, by up to 0.30 percentage points.
For the five-year fixed rate mortgage products, all rates have been cut by up to 0.15 percentage points. For those with a 40% deposit, rates at up to 60% loan to value (LTV) now start at 1.89% with a £999 fee and 2.09% with no fee, while rates are being reduced for those with a 5% deposit by 0.15 percentage points, with rates at up to 95% LTV now starting at 3.59% and 3.79% respectively.
Rates for the three-year fixed rate mortgage products have also been reduced by up to 0.15 percentage points, with the up to 60% LTV product now starting at 1.74% with a £999 fee and 2.04% with no fee, while the up to 95% LTV product starts at 3.44% with a £999 fee and 3.74% with no fee.
In addition, the two-year fixed rate mortgage for those with a 5% deposit is being cut by 0.30 percentage points, with sub-3% rates now available, with the up to 95% LTV product with a £999 fee starting at 2.94% and the no fee product at 3.34%.
Henry Jordan, the Nationwide’s director of mortgages, said: “We are reducing rates across the fixed rate mortgage range, improving the competitiveness of our two, three and five-year fixed rate products and supporting those mortgage applicants with both larger and smaller deposits who are looking to ensure their longer-term payment security.”