Nationwide cuts dozens of mortgage rates including LTV deals
The UK's second largest mortgage lender, the Nationwide, is cutting interest rates on products throughout its mortgage portfolio by up to 0.45%, with many of the highest discounts in their LTV (loan to value) range.
Selected first-time buyer, house purchase and shared equity rates are being reduced by up to 0.40%. Highlights include a two-year fixed rate at 75% LTV which has been cut by 0.40% to 1.59% with a £ 999 fee. Two-year fixed rates at 90% LTV have reduced by 0.25% to 3.24% with a £999 fee and 3.49% with no fee. And the five-year fixes at the same LTV have been cut by 0.1 per cent to 3.44 and 3.64 per cent respectively.
For those looking at borrowing to make green improvements to their home, Nationwide is reducing selected rates on its green additional borrowing range by up to 0.35%.
Finally, the Society is reducing later life rates on its two and five-year fixed and two-year tracker retirement capital & interest (RCI) and retirement interest-only products by 0.20%, with rates now starting from 2.39%.
Henry Jordan, Nationwide’s director of mortgages, said: “These latest rate reductions showcase to borrowers that we want to continue offering some of the most competitive mortgage products on the market, as we look to support as many people as possible buying a new home or remortgaging their existing home.
"For those looking at their current property, we’ve also made a number of rate reductions on our green additional borrowing and later life deals.”
From the remortgage range a number of products will be reduced by up to 0.45 per cent including the five-year fixes at 85 per cent LTV with the £999 fee version down to 2.79 per cent and the no fee edition at 2.99 per cent. At the other end a 60 per cent LTV rate, the mutual now has products at 1.14 per cent with a £1,499 fee and 1.19 per cent with a £999 fee.