Nationwide cuts 90% LTV rates as part of widespread reductions

Essex Home Finance
Nationwide Building Society has reduced rates across various products in its mortgage range by up to 0.45%.
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Nationwide Building Society has reduced rates across various products in its mortgage range by up to 0.45%.

Selected first-time buyer, house purchase and shared equity rates are being reduced by up to 0.40% Highlights include a two-year fixed rate at 75% LTV which has been cut by 0.40% to 1.59% with a £999 fee. Two-year fixed rates at 90% LTV have reduced by 0.25% to 3.24% with a £999 fee and 3.49% with no fee.

Remortgage rates have been reduced by up to 0.45%, including a five-year fix at 85% which is now available at 2.79% with a £999 fee and 2.99% fee-free.

Rates on Nationwide’s existing customer and further advance ranges will also be reduced in line with the above changes.

Additionally, the Society’s two, three, five and ten-year switcher products at 60% and 75% LTV will be reduced by up to 0.20% with rates starting from 1.09%.

For those looking at borrowing to make green improvements to their home, Nationwide is reducing selected rates on its green additional borrowing range by up to 0.35%.

Finally, the Society is reducing later life rates on its two and five-year fixed and two-year tracker retirement capital & interest (RCI) and retirement interest-only products by 0.20%, with rates now starting from 2.39%.

Henry Jordan, Nationwide’s director of mortgages, said: “These latest rate reductions showcase to borrowers that we want to continue offering some of the most competitive mortgage products on the market, as we look to support as many people as possible buying a new home or remortgaging their existing home.

“For those looking at their current property, we’ve also made a number of rate reductions on our green additional borrowing and later life deals.”

Original Article from Financial Reporter 13/01/2021

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