Nationwide Reduces Remortgage Rates up to 0.80% across 2,3,5 and 10 Year Fixed Products
Starting from tomorrow, Wednesday, 24th January, Nationwide Building Society will be implementing rate reductions of up to 0.81 percentage points on selected products. Additionally, a new lineup of fixed and tracker rate products featuring a £1,499 fee will be introduced. Consequently, Nationwide’s rates will commence at 3.84%, marking its lowest level in eight months.
The updated rates cater to various customer segments:
New customers moving home:
- Reductions of up to 0.80% across two, three, five, and ten-year fixed-rate products up to 95% LTV.
- Launch of new £1,499 fee products, including a five-year fixed rate at 60% LTV with a 3.85% rate (a new product), a three-year fixed rate at 75% LTV with a £999 fee reduced to 4.24%, a two-year fixed rate at 85% LTV with a £1,499 fee at 4.49% (a new product), and a two-year tracker rate at 60% LTV with a £1,499 fee at 5.35% (a new product).
First-time buyers:
- Reductions of up to 0.74% across two, three, five, and ten-year fixed-rate products up to 95% LTV.
- Launch of new £1,499 fee products, including a five-year fixed rate at 60% LTV with a 3.85% rate (a new product), a three-year fixed rate at 75% LTV with a £999 fee reduced to 4.34%, a two-year fixed rate at 85% LTV with a £1,499 fee at 4.56% (a new product), and a two-year tracker rate at 60% LTV with a £1,499 fee at 5.50% (a new product).
Remortgage:
- Nationwide remortgage reductions of up to 0.80% across two, three, five, and ten-year fixed-rate products up to 90% LTV.
- Launch of new £1,499 fee products, including a five-year fixed rate at 60% LTV with a £999 fee reduced to 3.88%, a three-year fixed rate at 75% LTV with a £999 fee reduced to 4.50%, a two-year fixed rate at 60% LTV with a £1,499 fee at 4.33% (a new product), and a two-year tracker rate at 75% LTV with a £1,499 fee at 5.50% (a new product).
Nationwide is also reducing selected two, three, five, and ten-year switcher rates at 95% by up to 0.81%, with rates starting from 3.84%. These changes uphold Nationwide’s mortgage member pricing pledge, ensuring that switcher product rates will be the same or lower than the remortgage equivalents.
For existing customers moving home, Nationwide is reducing rates by up to 0.80%, introducing a range of products with a £1,499 fee, and offering rates starting from 3.85%. Rates for additional borrowing will be reduced by 0.81%, starting from 3.84%.
Full details of all rates included in these changes can be found here.
Henry Jordan, Director of Home at Nationwide Building Society, stated, “As one of the largest lenders in the country, we remain as committed as ever to supporting borrowers. These latest changes mean we are now offering sub-four percent rates for the first time in eight months. These reductions will ensure that we have some of the lowest rates on the market for all types of borrowers whether it be first-time buyers, home movers or those looking to remortgage or switch deals.”