Nationwide cuts prices with lowest rate now at 3.74% Mortgage Strategy

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Nationwide has reduced rates by as much as 0.21 percentage points, with the lowest rate now at 3.74%.

Effective tomorrow, rates have been cut across two-, three- and five-year fixed products.

For new customers moving home, Nationwide has reduced the two-year fixed rate at 60% LTV with a £1,499 fee by 0.07% to 3.74%.

The two-year fixed rate at 90% LTV with a £999 fee has also been cut by 0.18% to 4.27% and the five-year fixed rate at 85% LTV with a £999 fee has been trimmed by 0.11% to 4.09%.

For existing customers moving home, the lender has cut the two-year fixed rate at 60% LTV with a £1,499 fee by 0.07% to 3.74%.

The two-year fixed rate at 90% LTV with a £999 fee has been lowered by 0.17% to 4.27% and the five-year fixed rate at 85% LTV with a £999 fee has gone down by 0.10% to 4.09%.

First-time buyer rates have also been trimmed. These include the two-year fixed rate at 60% LTV with a £1,499 fee, which is now 3.86%.

Nationwide’s remortgage range has also had reductions by as much as 0.15% on two- and five-year fixed rate products between 75% and 90% LTV. 

These include the two-year fixed rate at 75% LTV with a fee of £999, which now has a rate of 3.99%.

Nationwide senior mortgages manager Carlo Pileggi says: “As the country’s second largest lender, we always strive to support all parts of the market with competitive rates.”

“This latest round of cuts across our range move even more of our rates below 4% and should put Nationwide in front of mind of first-time buyers, those moving on to their next home and those looking for a new mortgage deal.”

Earlier today, Santander made price reductions to selected new business residential fixed rates and buy-to-let remortgage fixed rates.

Highlights included the 60% to 75% LTV two-year fixed rate for home movers starting from 3.73% with a fee of £999.


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