Major mortgage revamp at Nationwide
As more borrowers look to fix their mortgage repayments to ensure a degree of certainty, Nationwide has cut rates by up to 0.70% across fixed and tracker deals even for those with smaller deposits.
Two year fixed rate mortgages are now available from 1.94% at the lender, three year fixed rates start from 2.39% and five year fixed rates start from 2.99%. Two year tracker rates will now start at just 1.69%
Existing customers will also continue to benefit from an additional 0.10% reduction whenever they make a new application to move home or switch products.
Nationwide current account customers can choose from either a four year fixed rate Flexclusive mortgage (at the same rate as the three year version available to new customers) or a three year Flexclusive tracker mortgage starting at 1.89%.
Tracie Pearce, Nationwide’s head of Mortgages, said: “With increased debate around the possibility of an interest rate rise, customers are keen to access competitively-priced fixed rates and trackers.
“In particular, access to a rate of less than 2% (1.94%) for a two year fixed rate mortgage and less than 3% for a five year version show that we continue to offer some of the most competitive rates on the market.”