Nationwide chops rates on its fixed mortgages

Christina Hoghton
Written By:
Christina Hoghton

Two-, three- and five-year fixed rates have been cut by the building society

The UK’s largest mutual, Nationwide, has announced it is reducing the cost of its fixed rate mortgages.

The building society has cut rates across the full range of its two-year fixed products. The 60% loan-to-value mortgage for borrowers with at least 40% upfront now starts at 1.29% with a £999 fee or 1.69% with no fee.

For those with a more modest 5% deposit, predominantly first-time buyers, rates are 3.69% with a £999 fee and 4.09% with no fee.

Three-year fixed rates include a 1.59% deal with a £999 fee up to 60% LTV, or 1.89% with no fee. For those borrowing 95% LTV the rate is 4.09% with a £999 fee and 4.39% with no fee.

Borrowers looking to lock in for longer can access five-year fixed rate mortgages starting from 1.89% at 60% LTV and 4.49% up to 95% (with a £999 fee).
In addition, the rate for the 75% LTV five-year tracker product with a £999 fee is reduced to 2.14%. All Nationwide tracker mortgage products currently have no Early Redemption Charges (ERCs).