UK mortgage lender Nationwide has launched a fresh round of rate cuts on a range of fixed rate mortgage deals, providing a welcome boost for first-time buyers, remortgagers, and existing customers alike. New rates, launching tomorrow, will fall by up to 0.20% on selected two-year, three-year, and five-year fixed rate mortgages.
More Affordable Mortgage Rates for First-Time Buyers
Nationwide’s latest rate cuts offer even more value for first-time buyers, particularly those with smaller deposits. Featured deals are:
- An 85% loan-to-value (LTV) two-year fixed rate mortgage for £1,499 fee, now 4.13%
- A five-year fixed at 85% LTV and a £999 fee, now 4.19%
- A five-year fixed rate 90% LTV with no fee, now 4.49%
These reductions translate to up to 0.11% cutbacks on selected deals, making Nationwide’s first-time buyer and remortgage mortgages that little bit cheaper for those who want to step onto the property ladder in 2025.
Remortgage Rate Cuts Also Unveiled
Nationwide homeowners remortgaging will also gain from rate reductions of up to 0.11%, offering increased remortgaging affordability in the face of uncertain interest rate forecasts. Highlights include:
- An 80% LTV two-year fix remortgage with a £999 fee, down to 4.44%
- An 85% LTV three-year fix with no fee, down to 4.60%
- A five-year fixed product at 85% LTV with a £999 fee, now available at 4.24%
These drops can prove to save money for those whose current mortgage deals are up, as many borrowers seek security in longer fixes.
Additional Switcher and Existing Customer Cuts
Nationwide is also cutting two-, three-, and five-year fixed rate switcher products to 95% LTV by up to 0.20%, with rates from 3.84%.
Also, for those customers who need to borrow extra, fixed rates are now reduced by up to 0.14%, again from 3.84%. Home-mover existing customers will continue to have access to the same or improved rates as new customers, improving loyalty rewards.
Key Takeaways
- Rate drops of up to 0.20% on certain Nationwide fixed rate mortgages
- Mortgage rates now from 4.13% for first-time buyers
- Remortgage rates reduced to at least 4.24%
- Switcher and other borrowing offers now from 3.84%
New rates from tomorrow
These changes make Nationwide a competitive player in the UK mortgage market, with increased affordability for an enormous number of borrowers. Whether you’re purchasing your home for the first time, moving home, or remortgaging, these changes could translate to enormous monthly savings. Give our team of mortgage experts at Oportfolio Mortgages a call today. We are here to help.
