Nationwide to cut 95% range by up to 40bps

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Nationwide will cut rates on its 95 per cent LTV fixed rate mortgages by up to 40 basis points from tomorrow.

Rates for the lender’s two-year fixes will be cut by 35 basis points. From tomorrow it will offer a 3.89 per cent product with a £999 fee and a 4.29 per cent product with no fee.

Three-year 95 per cent LTV fixed rates will be reduced by 40 basis points to 4.39 per cent with a £999 fee and 4.69 per cent with no fee.

Nationwide’s five-year fixed rates will be cut by 30 basis points to 4.69 per cent with a £999 fee and 4.89 per cent with no fee.

Nationwide head of mortgages Henry Jordan says: “As part of Nationwide’s range of measures to help first time buyers on to the housing ladder, we are reducing rates for those with smaller deposits looking for competitive mortgage deals and payment security over a range of terms.”