Nationwide has reduced residential mortgage rates by up to 0.35% across selected fixed and tracker products up to 95% LTV.
For new customers moving home, a two-year tracker rate at 60% LTV has reduced by 0.25% to 1.39% with a £999 fee, and a two-year fixed rate at 75% LTV has been cut to 1.14% with a £1,499 fee. A five-year fix at 85% LTV has reduced by 0.10% to 2.49% with a £1,499 fee, and a ten-year fix at 60% LTV has been cut by 0.35% to 1.99% with a £999 fee.
For first-time buyers, a two-year fixed rate at 95% LTV has been cut by 0.15% to 3.64% with no fee, while a five-year fix has been lowered to 2.54%, with a £1,499 fee.
At 60% LTV, a two-year tracker has reduced by 0.25% to 1.39% and a ten-year fix has been cut by 0.35% to 1.99%, both with a £999 fee.
For remortgage clients, rates have been reduced by up to 0.15% on selected fixed rates up to 85% LTV. Highlights include two-year fixed rates at 1.19% up to 75% LTV and 1.79% up to 80% LTV, both with a £999 fee.
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.15% on selected fixed and tracker products up to 95% LTV.
Nationwide is also reducing selected further advance, family deposit mortgage and switcher rates by up to 0.15%.
Henry Jordan, Nationwide’s director of mortgages, said: “As one of the largest lenders in the UK we always keep our rates under review to ensure we can maintain our competitive position in the market. Whether someone is buying a new home or remortgaging their existing property we have a range of mortgages on offer to suit their needs.”
Original Article from Financial Reporter 30/06/021