Nationwide reduces rates on its two-year 50% LTV fixes

Nationwide is reducing its two-year 50% LTV fixed mortgage rates for new applications by 0.15% this Friday.

It is now offering a two-year fixed rate at 2.99% up to 50% LTV, with a £400 product fee, and a £99 booking fee, payable upfront and non-refundable for house purchase customers

Or the option of a £900 product fee, with a £99 booking fee for remortgage and switcher customers.

It is also offering a two-year fixed rate available at 3.39% up to 50% LTV with no product fee, and a £99 booking free for house purchase, remortgage and switcher customers.

It is also offering £300 cash-back for existing Nationwide mortgage customers when they move home or switch to a new mortgage deal at the end of their deal and remortgage customers continue to receive free standard valuation and free standard legal fees.

Martyn Dyson, head of mortgages at Nationwide, says: “This rate reduction of our two-year fixed deals at 50% LTV is great news for borrowers with a larger deposit.  In particular, we believe this re-price will prove popular for remortgage customers looking to come to us from another lender – enabling intermediaries to do more business with their clients.”