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Nationwide cuts fixed mortgage rates

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Nationwide cuts fixed mortgage rates

Nationwide Building Society has chopped the interest rates on a range of its two-, three- and five-year fixed rate mortgages by up to 0.10%.

All of the mutual’s two-year fixed rates up to 95% of the property’s value have been cut. For those with a 5% deposit, mainly first-time buyers, rates have been reduced to 4.09% with a £999 fee and 4.49% with no fee.

Borrowers with a deposit of 40% or more can access a two-year fixed rate product at 1.29% with a £999 fee and 1.69% with no fee.

Three-year fixed rates at up to 80, 85 and 95% of the property’s value have been reduced by 0.10%.

Rates at up to 85% loan-to-value now start at 1.74% with a £999 fee and 2.04% fee-free, and rates at 95% of the property’s value have been reduced to 4.39% with a £999 fee and 4.69% with no fee.

Also reduced are selected five-year fixed deals, with mortgages for those with 20% upfront now starting at 2.09% with a £999 fee and 2.29% fee-free.

Henry Jordan, Nationwide’s director of mortgages, said: “We are reducing selected rates across the fixed rate product ranges, including for those with both large and small deposits.

“As well as offering a wide range of competitive mortgage rates, Nationwide also offers additional benefits to first time buyers, home movers and those remortgaging to the Society.”

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