The Nationwide Building Society has cut all of its two year fixed and tracker rates, all three year tracker rates and all 85% LTV mortgage products.
Nationwide’s two year fixed rate products have been reduced by 0.10 percentage points, while three year tracker products have been reduced by 0.15 percentage points.
In addition, all 85% LTV products have been reduced by a further 0.25 percentage points.
Key highlights include:
New 2.14% two-year fixed or tracker rate up to 60% LTV with £999 fee (2.04% for existing borrowers)
- First time buyers pay a reduced fee of £499
- Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
- A non-refundable booking fee of £99 is payable on reservation
New 2.34% three year tracker up to 70% LTV with £999 fee (2.24% for existing borrowers)
- First time buyers pay a reduced fee of £499
- Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
- A non-refundable booking fee of £99 is payable on reservation
New 3.39% two-year fixed or tracker rate up to 85% LTV with £999 fee (3.29% for existing borrowers)
- First time buyers pay a reduced fee of £499
- Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
- A non-refundable booking fee of £99 is payable on reservation
NewBuy rates remain unchanged.
Tracie Pearce, head of group mortgages at Nationwide, said: “Nationwide is demonstrating that it really is open for business by announcing its eighth rate cut of 2013 so far.
“These reductions clearly demonstrate our commitment to offer competitive, quality and affordable products to both new and existing customers in a range of LTVs and for both fixed and tracker rates.
“In particular, the reductions at 85% LTV demonstrate how we are on the side of customers with lower deposits, helping the housing market keep moving.”