Nationwide Building Society will cut selected house purchase and remortgage rates by up to 30 basis points, with new rates starting at 4.18%.   

The new rates, which comes to market tomorrow (9 July), include:  

New customers moving home — reductions of up to 20bps across two, three and five-year fixed rate products up to 85% loan to value:   

Five-year fixes at 60% LTV, with a £1,499 fee, are 4.18%, down by 16bps  

Two-year fixes 60% LTV, with a £1,499 fee, are 4.59%, down by 20bps  

First-time buyers — reductions of up to 9bps across two and three-year fixed rate products up to 85% LTV:   

Three-year fixes at 60% LTV, with a £999 fee, are 4.65%, down by 9bps  

Remortgage — reductions of up to 30bps across two, three and five-year fixed rate products up to 90% LTV:   

Three-year fixes at 75% LTV, with a £999 fee, are 4.77%, down by 17bps  

Five-year fixes at 80% LTV, with a £1,499 fee are 4.94%, down by 30bps  

Nationwide is also cut selected two-, three-, and five-year switcher rates at up to 95% LTV by up to 16bps, with rates starting from 4.34%.   

These changes continue the mutual’s existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.  

It will reduce fixes and for existing customers moving home by up to 20bps, with rates now starting from 4.18%.   

Rates for additional borrowing will be reduced by 16bps and will now start from 4.34%. It will also remove all fees from further advance products.  

Nationwide Building Society director of home Henry Jordan says: “These reductions will ensure that we have some of the most competitive rates on the market for all types of borrowers whether it be FTBs, home movers or those looking to remortgage or switch deals.” 

The post Nationwide cuts purchase, remo rates by up to 30bps   appeared first on Mortgage Strategy.

​