Nationwide cuts mortgage rates across fixed and tracker range

Nationwide has cut mortgage rates across its fixed-rate range and reduced selected tracker products.

The lender has reduced fixed rates by up to 0.19% across two, three, five and ten-year products, while selected two-year tracker rates have fallen by up to 0.12%.

The new rates take effect from today and apply across new lending and product switcher business.

Across remortgage products, rates are being reduced by up to 0.19%, including:

Two-year fixed at 90% LTV with a £999 fee, now 4.99% (down 0.15%)
Five-year fixed at 60% LTV with a £999 fee, now 4.49% (down 0.10%)
Two-year fixed at 60% LTV with a £1,499 fee, now 4.37% (down 0.07%)
Two-year fixed at 90% LTV with no fee, now 5.20% (down 0.19%)

For switcher products (existing Nationwide customers coming to the end of their deal), rates are being cut by up to 0.16% across two, three, five and ten-year fixes up to 95% LTV, including:

Two-year fixed at 60% LTV with a £999 fee, now 4.37% (down 0.07%)
Two-year fixed at 80% LTV with no fee, now 4.98% (down 0.16%)
Five-year fixed at 60% LTV with a £999 fee, now 4.44% (down 0.10%)

Nationwide said all switcher product rates will remain the same as or lower than equivalent remortgage rates, as part of its existing customer pricing pledge.

For first-time buyers, rates are being cut by up to 0.19%, including:

Five-year fixed at 60% LTV with a £999 fee, now 4.37% (down 0.19%)
Two-year fixed at 90% LTV with no fee, now 4.93% (down 0.13%)
Five-year fixed at 90% LTV with a £999 fee, now 4.61% (down 0.13%)
Five-year fixed at 95% LTV with a £999 fee, now 5.08% (down 0.12%)

First-time buyers will also continue to receive £500 cashback on completion, while both first-time buyers and home movers can access up to £500 cashback through Nationwide’s Green Reward scheme when purchasing an energy-efficient property.

For home movers, rates are being cut by up to 0.15%, including:

Five-year fixed at 90% LTV with no fee, now 4.69% (down 0.10%)
Three-year fixed at 75% LTV with a £999 fee, now 4.49% (down 0.10%)
Two-year fixed at 85% LTV with a £999 fee, now 4.45% (down 0.09%)
Three-year fixed at 95% LTV with a £999 fee, now 5.16% (down 0.15%)

Nationwide said it continues to offer existing customers moving home rates that are the same as or lower than equivalent new customer deals.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “Another set of rate cuts across our mortgage range is further proof that Nationwide is an all-round lender committed to supporting all types of borrowers.”