Nationwide cuts tracker and fixed rates

Nationwide is lowering the rates on its fixed and tracker rate products available to those buying a home and remortgaging.

The biggest reduction of 0.59% has been made on its two-year no fee fixed rate deal available to remortgage customers up to 70% LTV. 

For those remortgaging its two-year fix rate has been reduced by 0.29% available from 3.88% up to 70% LTV, with new customers allowed to borrow up to 85% LTV with a £99 booking fee and £896 product fee.

It has also reduced its five-year fixed rate by 0.40% available from 5.28%.

Its two-year tracker has been reduced by 0.29% and is available from 3.19%, while its two-year fixed rates have been reduced by 0.20% available from 3.49%.

For those buying a home it has reduced its two-year fixed rates by 0.20% available from 3.49%, up to 70% LTV.

Five-year fixed rates have also been reduced for those buying a home by 0.25% and are available from 4.99%.

Its two-year trackers have been increased by 0.04% and are available from 2.68%.

Martyn Dyson, head of mortgages at Nationwide, says: “We’ve improved our range by making a raft of cuts of up to 0.59%. We are improving our great rates for borrowers buying a house, but the largest cuts are on our remortgage deals, in particular on the two and five year fixed rate products.”