Changes have been made to select two-, three- and five-year fixed mortgage rates at Nationwide.
The lender said that the change will mean it is the first high street lender to return to offering a five-year fixed rate below 4%. This is based on Moneyfacts data.
Within its new customers moving home offerings, cuts of up to 0.23% will be made across its two-, three- and five-year fixed mortgage rates up to 95% loan to value (LTV).
This includes its five-year fixed rate at 60% LTV with a £1,499 fee, which will fall by 0.19% to 3.99%, with its £999 fee version coming to 4.04%.
The lender’s no-fee version at 60% LTV will decrease by 0.23% to 4.24%.
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Going up to 85% LTV, its five-year fixed rate with a £999 fee will go down by 0.1% to 4.5%, and its two-year fixed rate at 80% LTV with a £999 fee will decrease by 0.11% to 4.87%.
In its first-time buyer range, reductions of up to 0.24% will be made to its two-, three- and five-year fixed mortgage rates up to 95% LTV.
The lender’s five-year fixed rate at 85% LTV with a £999 fee will contract by 0.24% to 4.55%, and its two-year fixed rate will fall by 0.19% to 4.95%.
Nationwide’s five-year fixed rate at 60% LTV with a £1,499 fee will reduce by 0.2% to 4.34%, and for its £999 fee version, the rate will go down by 0.2% to 4.39%.
On the remortgage side, cuts of up to 0.17% will be applied to its two-, three- and five-year fixed rates up to 90% LTV.
The lender’s five-year fixed rate at 60% LTV with a £1,499 fee is 4.27%, while its 75% LTV version with a £999 fee is 4.43%.
Its two-year fixed rate at 75% LTV with a £999 fee is 4.79%.
Nationwide is also reducing selected two-, three- and five-year switcher rates up to 95% LTV by up to 0.25%, with rates starting from 4.24%.
The lender is also reducing rates for existing customers moving home by up to 0.23% on selected two-, three- and five-year fixed rate products up to 95% LTV, while additional borrowing rates are being cut by up to 0.25% on two-, three- and five-year fixed products up to 90% LTV.
The firm is increasing the rates by up to 0.15% on selected two-year tracker products.
‘We want to maintain our support for all types of borrowers’
Henry Jordan, Nationwide’s director of home, said: “These latest rate cuts and the reintroduction of a sub-four per cent product further reinforce our position as one of the most competitive lenders in the market.
“We’ve made rate reductions across our fixed rate mortgage range because, as the country’s largest mutual, we want to maintain our support for all types of borrowers through attractively priced products, whether it be homemovers, first-time buyers or those looking to remortgage or switch their deal.”
Nationwide last lowered mortgage rates around two weeks ago.
This article is based on one that was first published on YourMoney.com‘s sister site, Mortgage Solutions. Read: Nationwide’s mortgage rates fall below 4%
