Nationwide cuts rates by up to 0.35%

Nationwide-Building-Logo-Closeup-700x450.jpgNationwide is reducing selected fixed, tracker and shared equity rates by up to 0.35 per cent tomorrow.

The two-year 60 per cent (LTV) fixed rate product now starts at 1.34 per cent with a £999 fee, which is Nationwide’s lowest-ever fixed rate, and 1.74 per cent with no fee.

The three-year fixed rate mortgage deals start at 1.64 per cent with a £999 fee and 1.94 per cent with no fee. Selected five-year fixed rates and tracker products for those with larger deposits have also been reduced.

In addition, both two and five-year fixed rates in the shared equity range, have been reduced. Rates for the 60 per cent LTV shared equity product are reduced by 0.35 per cent to 1.54 per cent with a £999 fee and 1.94 per cent with no fee, while the five-year fixed rate product have also been cut by 0.35 per cent to 2.29 per cent with a £999 fee and 2.49 per cent with no fee.

Nationwide head of mortgages Henry Jordan says: “We have introduced a wide selection of highly competitive rates across our range of fixed and tracker products, as well as all of our fixed rate shared equity mortgage deals.

“We also continue to offer additional benefits for both new and existing customers, such as a £500 cashback for first time buyers to help with moving costs, free standard valuations for all mortgage customers and the flexibility of no Early Redemption Charges for all tracker customers.”

Nationwide Flex main current account holders who are taking out a Nationwide mortgage are also eligible for an additional £250 cashback.

Existing Nationwide mortgage customers receive a £250 cashback when switching to a new product or moving home, in addition to continuing to benefit from a 0.10 per cent discount on new customer rates.