Nationwide Building Society will cut selected fixed-rate loans at 90% and 95% loan to value by up to 20 basis points and switcher rates by up to 30bps, from tomorrow (4 April).
The mutual says there are reductions for new customers moving home by up to 15bps across selected two-, three- and five-year fixed-rate products at 90% and 95% LTV, including:
- A five-year fixed-rate deal at 90% LTV, with a £999 fee is now 4.44%, reduced by 5bps
- A three-year fixed-rate offer at 90% LTV, with a £999 fee is now 4.69%, down by 10bps
- And a two-year fixed-rate loan at 95% LTV, with a £999 fee is now 5.29%, cut by 15bps
Its offers for first-time buyers have reductions of up to 20bps across selected two-, three- and five-year fixed products at 90% and 95% LTV, including:
- A five-year fixed-rate deal at 90% LTV, with a £999 fee is now 4.44%, reduced by 10bps
- A two-year fixed-rate loan at 90% LTV, with a £999 fee is now 4.89%, down by 5bps
- And a three-year fixed-rate product at 95% LTV, with a £999 fee is now 5.24%, cut by 20bps
Its switcher deals include reductions of up to 30bps across selected two-, three- and five-year fixed products, including:
- A five-year fixed-rate loan at 60% LTV, with a £999 fee is now 3.89%, reduced by 5bps
- A two-year fixed-rate offer at 75% LTV, with a £999 fee is now 4.24%, cut by 10bps
- And a 10-year fixed-rate deal at 60% LTV, with no fee is now 4.29%, down by 30bps
The lender says its FTB mortgages also come with £500 cashback, while those looking to remortgage can choose between £500 cashback, or free standard legal fees.
For existing members moving home, the firm is also cutting rates by up to 20bps on two-, three- and five-year fixed products at 90% and 95% LTV.
The business adds that for those looking to borrow more, is reducing selected two-, three-, five- and ten-year fixed rates on its additional borrowing range by up to 30bps, while the rate on green additional borrowing is also being reduced by 5bps, with the rate now at 3.89%.
Nationwide Building Society director of home Henry Jordan says: “We are making reductions on our higher loan to value products to support those with a small deposit who are looking to buy their first home or move to a new property.
“We have also made further reductions to our switcher products where existing members benefit from our pricing pledge that those switching to a new deal will continue to benefit from a rate which is the same or better than the equivalent remortgage product.”
