The Nationwide Building Society has reduced selected fixed rate mortgages across its range by up to 0.45 percentage points.
The reductions have been made on a range of two, three, five and 10-year fixed rate deals, with rates for those with a 10% deposit now starting at 2.79% for a two-year fixed rate mortgage and 3.54% for a five-year fixed rate mortgage, both with a £999 fee.
Deals at 70% loan to value (LTV) for the three-year fixed rate start at 2.14% and for the five-year fixed rate at 2.54%, both with a £999 fee.
Buyers opting for a 10-year fixed rate mortgage have seen rates reduced by up to 0.45 percentage points, with rates available from 3.14% with a £999 fee for customers with a 30% deposit and 3.64% with a £999 fee for customers with a 15% deposit.
The new Nationwide mortgage rates are as follows:
Two-year fixed rates:
- 90% LTV rates reduced by 0.20% to 2.79% with a £999 fee and 3.19% with no fee.
Three-year fixed rates:
- 70% LTV rates reduced by 0.05 percentage points to 2.14% with a £999 fee and 2.44% with no fee
- 75% LTV rates reduced by 0.30 percentage points to 2.19% with a £999 fee and 2.49% with no fee
- 80% LTV rates reduced by 0.15 percentage points to 2.39% with a £999 fee and 2.69% with no fee
- 85% LTV rates reduced by 0.15 percentage points to 2.54% with a £999 fee and 2.84% with no fee
- 90% LTV rates reduced by 0.15 percentage points to 3.24% with a £999 fee and 3.54% with no fee
Flexclusive four-year fixed rates:
- 75% LTV rates reduced by 0.10 percentage points to 2.44% with a £999 fee and 2.69% with no fee
- 80% LTV rates reduced by 0.10 percentage points to 2.59% with a £999 fee and 2.84% with no fee
- 85% LTV rates reduced by 0.10 percentage points to 2.84% with a £999 fee and 3.09% with no fee
- 90% LTV rates reduced by 0.10 percentage points to 3.39% with a £999 fee and 3.64% with no fee
Five-year fixed rates:
- 70% LTV rates reduced by 0.15 percentage points to 2.54% with a £999 fee and 2.74% with no fee.
- 75% LTV rates reduced by 0.15 percentage points to 2.69% with a £999 fee and 2.89% with no fee.
- 80% LTV rates reduced by 0.10 percentage points to 2.84% with a £999 fee and 3.04% with no fee
- 85% LTV rates reduced by 0.10 percentage points to 3.14% with a £999 fee and 3.34% with no fee
- 90% LTV rates reduced by 0.10 percentage points to 3.54% with a £999 fee and 3.74% with no fee
10 year fixed rates:
- 60% and 70% LTV rates reduced by 0.10 percentage points to 3.14% with a £999 fee and 3.24% with no fee
- 75% and 80% LTV rates reduced by up to 0.45 percentage points to 3.24% with a £999 fee and 3.34% with no fee
- 85% LTV rates reduced by 0.35 percentage points to 3.64% with a £999 fee and 3.74% with no fee
- 90% LTV rates reduced by 0.30 percentage points to 4.04% with a £999 fee and 4.14% with no fee
Existing mortgage customers continue to benefit from a 0.10 percent point discount on new customer rates. In addition to the changes to the core range, there are also reductions for existing mortgage customers looking to switch deal as part of Nationwide’s Loyalty Rate Mortgages initiative, which compares the Society’s mortgage rates for existing customers to those of its top six high street competitors
Henry Jordan, Nationwide’s head of mortgages, said: “Following the launch of Nationwide’s new range of mortgage products for those with a 5% deposit, we are now reducing rates for those with larger deposits looking for competitive rates and payment security over the short, medium and longer term.
“First time buyers will also continue to qualify for a £500 cashback irrespective of which product they choose. This is in addition to the benefits available on the Flexclusive range of mortgages, including a free standard valuation and the option of either £250 cashback or no standard legal fees.”