Nationwide has cut selected fixed mortgage rates across its range, with cuts of up to 0.35 percentage points at 85 % loan to value (LTV) and above.
The reductions are being made on a range of two, three and five-year fixed rate deals, with rates for those with a 10% deposit starting at 3.14% for the two-year fixed rate products, 3.49% for the three-year products and 3.74% for the five-year products.
In addition, there are a range of reductions across the Flexclusive four-year fixed rate mortgage deals, available to Nationwide main current account holders, with rates starting at 2.29% with no fee.
The rate changes are as follows:
Two-year fixed rate:
- 90% LTV with £999 fee reduced by 0.10 percentage points to 3.14%, £0 fee reduced by 0.10 percentage points to 3.54%
Three-year fixed rate:
- 85% LTV with £999 fee reduced by 0.35 percentage points to 2.79%, £0 fee reduced by 0.35 percentage points to 3.09%
- 90% LTV with £999 fee reduced by 0.25 percentage points to 3.49%, £0 fee reduced by 0.25 percentage points to 3.79%
Five-year fixed rate:
- 85% LTV with £999 fee reduced by 0.15 percentage points to 3.24%, £0 fee reduced by 0.15 percentage points to 3.44%
- 90% LTV with £999 fee reduced by 0.15 percentage points to 3.74%, £0 fee reduced by 0.15 percentage points to 3.94%
Four-year Flexclusive fixed:
- 60% LTV with £0 fee reduced by 0.05 percentage points to 2.29%
- 70% LTV with £0 fee reduced by 0.05 percentage points to 2.59%
- 75% LTV with £0 fee reduced by 0.05 percentage points to 2.79%
- 80% LTV with £0 fee reduced by 0.05 percentage points to 2.94%
- 85% LTV with £999 fee reduced by 0.20 percentage points to 2.99%, £0 fee reduced by 0.25 percentage points to 3.24%
- 90% LTV with £999 fee reduced by 0.15 percentage points to 3.59%, £0 fee reduced by 0.20 percentage points to 3.84%
- Save to Buy 95% LTV mortgage with £0 fee reduced by 0.05 percentage points to 4.89%
Henry Jordan, Nationwide’s head of mortgages, said: “We are offering a range of reductions to both new and existing customers across the range, particularly focussing on customers who have smaller deposits and are looking for payment security over the short, medium and longer term. The new rates will especially benefit first time buyers, with a competitive two-year fixed rate mortgage product with a £999 fee available up to 90% LTV reduced by 0.10% [sic] to 3.14%.
“First time buyers will also qualify for a £500 cashback irrespective of which product they chose. This is in addition to the benefits available on the Flexclusive range of mortgages, and a cashback of up to £1,000 available on the Save to Buy mortgage deals.
“With a number of cashback offers and rate reductions available to mortgage customers, we can offer tangible benefits when choosing a Nationwide mortgage, whether opting for a product without or without a fee.”
