Nationwide reduces FTB and homemover rates

Nationwide Building Society has announced reductions in selected mortgage rates by up to 0.33 percentage points, effective from 21 February.

The changes bring its lowest rates down to 4.09%.

NEW HOME MOVERS

For new customers purchasing homes, Nationwide is decreasing rates by up to 0.22% across two, three, and five-year fixed-rate products up to 95% loan-to-value (LTV). Notable changes include:

A five-year fixed rate at 60% LTV with a £1,499 fee, now at 4.09% (a reduction of 0.05%).
A five-year fixed rate at 85% LTV with a £999 fee, now at 4.45% (a reduction of 0.13%).
A three-year fixed rate at 75% LTV with a £999 fee, now at 4.34% (a reduction of 0.05%).
A two-year fixed rate at 75% LTV with a £1,499 fee, now at 4.24% (a reduction of 0.13%).
A two-year fixed rate at 95% LTV with no fee, now at 5.42% (a reduction of 0.22%).

FIRST-TIME BUYERS

First-time buyers will see rate cuts of up to 0.33% on two and three-year fixed-rate products up to 95% LTV. Key updates include:

A three-year fixed rate at 60% LTV with a £999 fee, now at 4.29% (a reduction of 0.05%).
A three-year fixed rate at 85% LTV with a £999 fee, now at 4.64% (a reduction of 0.05%).
A two-year fixed rate at 80% LTV with a £999 fee, now at 4.50% (a reduction of 0.33%).
A two-year fixed rate at 95% LTV with a £999 fee, now at 5.29% (a reduction of 0.25%).

Existing customers looking to move homes will also benefit from rate reductions of up to 0.22%, with rates starting from 4.09%.

Carlo Pileggi, Nationwide’s senior manager for mortgages, said: “As one of the UK’s largest lenders, we remain committed to supporting home movers and first-time buyers.

“These reductions follow our recent cuts for remortgage and switcher customers.

“The latest adjustments bring five-year and two-year fixed rates closer together, offering competitive options for both first-time buyers and those moving homes.”