Nationwide cuts rates again for new and existing customers

21 Aug 2024

Nationwide cuts rates again for new and existing customers

• Rates cut by up to 0.26% with Nationwide's lowest rate now 3.78%

Nationwide will be reducing rates by up to 0.26 percentage points across its two, three, five and ten-year fixed rate products with the new rates effective from tomorrow, Thursday 22 August.

Nationwide is now offering a mortgage rate of 3.78%, which is available to any new and existing customers looking to move home.

The new rates include:

New customers moving home: reductions of up to 0.26% across two, three, five and ten-year fixed rate products up to 95% LTV, including:

• Five-year fixed rate at 60% LTV with a £1,499 fee¹ is 3.78% (reduced by 0.05%)
• Five-year fixed rate at 60% LTV with a £999 fee is 3.83% (reduced by 0.05%)
• Five-year fixed rate at 75% LTV with no fee is 4.09% (reduced by 0.26%)
• Two-year fixed rate at 60% LTV with a £999 fee is 4.15% (reduced by 0.20%)

Existing customers moving home: reductions of up to 0.26% across two, three, five and ten-year fixed rate products up to 95% LTV, including:

• Five-year fixed rate at 60% LTV with a £1,499 fee¹ is 3.78% (reduced by 0.05%)
• Five-year fixed rate at 60% LTV with a £999 fee is 3.83% (reduced by 0.05%)
• Five-year fixed rate at 75% LTV with no fee is 4.09% (reduced by 0.26%)
• Two-year fixed rate at 60% LTV with a £999 fee is 4.15% (reduced by 0.20%)

First-time buyers: reductions of up to 0.25% across two, three, five and ten-year fixed rate products up to 95% LTV, including:

• Five-year fixed rate at 60% LTV with a £1,499 fee¹ is 3.99% (reduced by 0.15%)
• Five-year fixed rate at 90% LTV with a £999 fee is 4.64% (reduced by 0.16%)
• Two-year fixed rate at 60% LTV with no fee is 4.74% (reduced by 0.25%)

Remortgage: reductions of up to 0.25% across two, three, five and ten-year fixed rate products up to 90% LTV, including:

• Five-year fixed rate at 60% LTV with a £999 fee is 3.99% (reduced by 0.21%)
• Five-year fixed rate at 85% LTV with a £999 fee is 4.64% (reduced by 0.20%)
• Three-year fixed rate at 75% LTV with no fee is 4.65% (reduced by 0.25%)

Switcher: Nationwide is also reducing selected two, three and five-year switcher rates up to 95% LTV by up to 0.25% with rates starting from 3.94%. These latest changes continue to demonstrate Nationwide's commitment to its existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.

Additional borrowing rates are being cut by up to 0.20% on two, three and five-year fixed products up to 90% LTV, with rates starting from 3.94%.

Henry Jordan, Nationwide's Director of Home, said: "We're making cuts across the majority of our fixed rate mortgage range to support all buyer types across the housing market."

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