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Nationwide launches its lowest ever mortgage rate

Swindon-based building society has made reductions across the board for new and existing customers.

Swindon-based Nationwide Building Society will be reducing selected fixed and tracker rates across its range by 0.40 percentage points from 3 September 2021, a move that will see the Society launch its lowest ever mortgage for new lending, with rates starting from 0.87 per cent.

The new rates include:

New customers moving home

Reductions of up to 0.40 % across selected fixed and tracker rate products up to 95% LTV. This includes:

Two-year fixed rate at 60% LTV reduced by 0.04% to 0.87%, with a £1,499 fee.

Two-year tracker rate at 60% LTV reduced by 0.40% to 0.99%, with a £999 fee

Two-year fixed rate at 75% LTV reduced by 0.04% to 1.00%, with a £1,499 fee.

Three-year fixed rate 95% LTV reduced by 0.25% to 2.99%, with a £999 fee.

Five-year fixed rate at 85% LTV reduced by 0.08% to 2.16%, with a £1,499 fee.

First-time buyers

Reductions of up to 0.30% across selected fixed and tracker rate products up to 95% LTV. This includes:

Two-year tracker rate at 60% LTV reduced by 0.20% to 1.09%, with a £1,499 fee.

Two-year fixed rate at 75% LTV reduced by 0.30% to 1.44%, with no fee.

Two-year fixed rate at 95% LTV reduced by 0.25% to 2.99%, with a £1,499 fee.

Three-year fixed rate at 75% LTV reduced by 0.05% to 1.14%, with a £999 fee.

Five-year fixed rate at 85% LTV reduced by 0.04% to 2.20%, with a £1,499 fee.

Remortgage

Reductions of up to 0.40% across selected fixed and tracker rate products up to 85% LTV. This includes:

Two-year fixed rate at 60% LTV reduced by 0.04% to 0.87% with a £1,499 fee.

Two-year tracker rate at 60% LTV reduced by 0.40% to 0.99%, with a £999 fee.

Two-year fixed rate at 75% LTV reduced by 0.13% to 0.99% with a £999 fee.

Three-year fixed rate at 80% LTV reduced by 0.09% to 1.59% with a £999 fee

Five-year fixed rate at 85% LTV reduced by 0.05% to 2.29% with a £999 fee.

For the Society’s existing customers moving home, Nationwide is reducing rates by up to 0.40% on selected fixed and tracker products up to 95% LTV.

Nationwide is also reducing selected further advance, family deposit mortgage and switcher rates by up to 0.32% and selected shared equity rates by up to 0.20%.

Nationwide’s first-time buyer mortgages also come with £500 cashback, while those looking to remortgage to the Society can choose between £500 cashback or free standard legal fees.

Henry Jordan, Nationwide’s Director of Mortgages, says: “As one of the largest lenders in the UK we always keep our rates under review to ensure we can maintain our competitive position in the market. These latest reductions see the Society launch its lowest ever new lending mortgage rate, which will offer those looking for a new deal one of the best rates available."

"However, reductions have been made at all loan to value levels so whether someone is buying a new home, remortgaging their existing property or getting a further advance to improve their home we have a range of mortgages on offer to suit their needs.”

nationwide.co.uk

 

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