Nationwide has announced mortgage rate reductions of up to 0.16% for new and existing borrowers.
The changes will apply from 13 February, and the lowest rate will be brought down to 3.54%.
The headline rate is available at 60% loan to value (LTV) on a two-year fixed term with a £1,499 fee. It is open to new and existing homemovers and has been reduced by 0.15%.
In the same range, there is a five-year fix at 85% LTV with a £1,499 fee, which has been cut by the same amount to 3.94%, and a two-year fix with a £999 fee also at 85% LTV, which has been lowered by 0.09% to 3.78%.
For first-time buyers, Nationwide has lowered its three-year fix at 90% LTV with a £999 fee by 0.16% to 4.4%, while the corresponding two-year fix has been cut by 0.14% to 4.1%.
At 60% LTV, the two-year fixed first-time buyer product with a £1,499 fee has been cut by 0.15% to 3.67%.
The new-build energy advantage
Sponsored by Halifax Intermediaries
All first-time buyer products offer £500 cashback.
Its remortgage rates have been lowered by as much as 0.15%, including the three-year fix at 60% LTV with a £999 fee, which is now 3.8%, and the five-year fix at 80% LTV with a £999 fee, which is 4.04% after a 0.1% cut.
Across its switcher range, Nationwide has reduced the three-year fix at 80% LTV with a £999 fee by 0.11% to 4.05%, and the corresponding five-year fix has been reduced by 0.06% to 3.99%.
Carlo Pileggi, head of mortgage products at Nationwide, said: “We review our mortgage rates on an ongoing basis to ensure they are sustainable and competitive for customers. These latest rate cuts are great news for first‑time buyers and homemovers, who will see the biggest benefit.”
Earlier this month, the firm announced it would become the first lender to allow a mortgage deed to be signed electronically.
