The Nationwide Building Society has launched its lowest-ever fixed rate mortgage.
The new two-year fixed rate deal available up to 60% LTV has a rate of 1.84% for new mortgage customers, and 1.74% for existing mortgage customers. This comes with a £999 product fee, reduced to £499 for first time buyers.
In addition, the Society has reduced selected fixed and tracker rates across its mortgage range by up to 0.65 percentage points. Two year fixed rate deals are reduced by up to 0.55 percentage points, while three and four year fixed rate deals are reduced by up to 0.50 percentage points and start from 2.29%. Five year fixed rate mortgages are reduced by up to 0.55 percentage points and start at 2.84%.
Tracker rates are also reduced by up to 0.6 percentage points, with rates starting at 1.44% for the two year tracker, available at up to 75% LTV.
Richard Napier, Nationwide’s divisional director of mortgages and savings, said: “With our lowest-ever fixed rate mortgage deal, Nationwide continues to offer the best possible rates to customers.
“We are also demonstrating our mutual difference by offering competitive fixed rate and tracker deals to all mortgage customers, whilst continuing to offer additional discounts for existing mortgage customers and first time buyers.”
Other deals include:
- New 2.84% five year fixed rate up to 60 per cent LTV with £999 product fee (2.74% for existing Nationwide mortgage customers)
- First time buyers pay a reduced product fee of £499
- Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
- New 1.44% two year tracker rate up to 75% LTV with £999 product fee (1.34% for existing Nationwide mortgage customers)
- First time buyers pay a reduced product fee of £499
- Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
Existing mortgage customers benefit from at least an additional 0.10 percentage point discount on all new customer rates.
The Nationwide also continues to offer its Loyalty Rate Mortgages initiative, which compares the Society’s mortgage rates for existing customers with those of its top six high street competitors and guarantees to offer the lowest comparative rate.
