You are here: Home - Mortgages - First Time Buyer - News -

Nationwide cuts mortgage rates

Written by:
Nationwide Building Society is reducing rates across the majority of its fixed rate mortgages by up to 0.20% and trackers by up to 0.10% from today.

New rates include a five-year fixed rate available at 3.29% at 70% loan-to-value (LTV) for new customers and a rate of 3.19% for existing customers.

Its three-year fixed rate is available at 3.09% at 70% LTV for new customers and 2.99% for existing customers. Both deals include a £900 product fee, £99 booking fee, and a £400 discounted product fee for first-time buyers.

The changes include a reduction to NewBuy mortgages of up to 0.20%. Its three-year fixed rate NewBuy mortgage is available at 5.29%, up to 95% LTV for new customers and 5.19% for existing customers.

Alternatively, the lender is offering a standard three-year fixed rate mortgage available at 5.79%, also up to 95% LTV for new customers and 5.69% for existing customers. The deal comes with a £900 product fee, £99 booking fee, and a £400 discounted product fee for first-time buyers.

No product fee rates are available on the deals above.

Tracie Pearce, Nationwide’s head of mortgages, said: “We’re particularly pleased to be able to reduce rates across the board, so everyone benefits, regardless of LTV and whether their deposit is 5% or 30%. This is the second reduction we’ve made to our rates in as many weeks and we’ve maintained the additional discount for existing customers as a reward for their loyalty.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
35-44 year-olds feel least financially secure

Britain’s “squeezed middle ages” need a 32% hike in income if they are to feel financially secure.