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Nationwide cuts the cost of its fixed rate mortgages

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The mutual is reducing its rates on some deals by as much as 0.30%
Nationwide cuts the cost of its fixed rate mortgages

Nationwide Building Society is reducing rates across its fixed rate range by up to 0.30%.

The building society is cutting the cost of two, three and five-year fixed mortgage products, across its range, including its deals for borrowers with smaller deposits.

Henry Jordan, Nationwide’s director of mortgages, said: “We are reducing rates across the fixed rate mortgage range, improving the competitiveness of our fixed rate products and supporting those mortgage applicants with both larger and smaller deposits who are looking to ensure their longer-term payment security.”

What has changed?

All five-year fixed rate mortgage products have seen rates cut by up to 0.15%. For those with a 40 per cent deposit, rates now start at 1.89% with a £999 fee and 2.09% with no fee, while mortgages up to 95 per cent of the property’s value now start at 3.59%.

Rates for the three-year fixed rate mortgage products have also been reduced by up to 0.15%, with the up to 60 per cent LTV product now starting at 1.74% with a £999 fee and 2.04% with no fee, while the up to 95 per cent LTV product starts at 3.44% with a £999 fee and 3.74% with no fee.

In addition, the two-year fixed rate mortgage for those with a five per cent deposit is being cut by 0.30%, with sub-3% rates now available, with the up to 95 per cent LTV product with a £999 fee starting at 2.94% and the no fee product at 3.34%.

Nationwide offers a range of additional benefits for first time buyers, home movers and those remortgaging to the Society. All standard mortgage valuations are fee-free, while first time buyers receive a £500 cashback to help with costs and those remortgaging to the Society can choose between £500 cashback or free standard legals.

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