Nationwide cuts mortgage rates for borrowers with a 20% deposit
Nationwide is cutting rates on selected mortgages up to 80 per cent of the property’s value.
Rate cuts of up to 0.35 percentage points will be made on two, five and ten-year remortgage fixed rates with amendments made to further advances, family deposit mortgages and switcher rates.
Highlights of the refreshed range include reductions of up to 0.20 per cent on remortgage two, five and ten-year fixed rate products, including a 0.05 per cent cut to its 60 per cent LTV two-year fix bringing the rate down to 1.09 per cent with a £1,499 fee.
For existing borrowers, reductions of up to 0.35 per cent across selected two and five-year fixed rate products have been applied.
This includes a five-year fixed rate at 80 per cent LTV reduced by 0.10 per cent to 2.04 per cent with £1,499 product fee.
Nationwide director of mortgages Henry Jordan said: “With just a couple of months left of the stamp duty holiday the mortgage market continues to see lots of activity.
“These latest reductions will improve our competitive position for borrowers looking to remortgage and existing members looking to move home.”