Effective from tomorrow, Wednesday 24th January, Nationwide Building Society will be reducing selected rates by up to 0.81% and introducing a new range of fixed and tracker rate products with a £1,499 fee.
These changes mean Nationwide’s rates start at 3.84% – its lowest level in eight months.
For new customers moving home, the lender has introduced reductions of up to 0.80% across 2-, 3-, 5- and 10-year fixed rate products up to 95% loan-to-value (LTV) plus the launch of new £1,499 fee products.
This includes a 5-year fixed rate at 60% LTV with a £1,499 fee at 3.85%, a 3-year fixed rate at 75% LTV with a £999 fee at 4.24%, a 2-year fixed rate at 85% LTV with a £1,499 fee at 4.49%, and a 2-year tracker rate 60% LTV with a £1,499 fee at 5.35%.
For first-time buyers, Nationwide is set to make reductions of up to 0.74% across 2-, 3-, 5- and 10-year fixed rate products up to 95% LTV plus launch of new £1,499 fee products.
These changes include a 5-year fixed rate at 60% LTV with a £1,499 fee at 3.85%, and a 3-year fixed rate at 75% LTV with a £999 fee at 4.34%.
In addition, remortgage customers will also benefit from reductions of up to 0.80% across 2-, 3-, 5- and 10-year fixed rate products up to 90% LTV, plus launch of new £1,499 fee products.
These include a 5-year fixed rate at 60% LTV with a £999 fee at 3.88%, a 3-year fixed rate at 75% LTV with a £999 fee at 4.50%, a 2-year fixed rate at 60% LTV with a £1,499 fee at 4.33% and a 2-year tracker rate 75% LTV with a £1,499 fee at 5.50%.
Nationwide is also reducing selected 2-, 3-, 5- and 10-year switcher rates at 95% by up to 0.81% with rates starting from 3.84%.
These latest changes also continue Nationwide’s existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.
Henry Jordan, director of home at Nationwide Building Society, said: “As one of the largest lenders in the country, we remain as committed as ever to supporting borrowers.
“These latest changes mean we are now offering sub-four percent rates for the first time in eight months.
“These reductions will ensure that we have some of the lowest rates on the market for all types of borrowers whether it be first-time buyers, home movers or those looking to remortgage or switch deal.”
