Michael Lloyd

January 8, 2020

Nationwide Building Society has reduced rates on selected 2, 3 and 5-year fixed rate mortgages by up to 0.30%.

For first-time buyers purchasing property up to 90% LTV, rates for 2-year and 5-year fixes have been cut by up to 0.05%.

This means 2-year fixes are priced at 1.84% and 5-year fixes at 2.24%.

Meanwhile for remortgages up to 60% LTV, rates for the 2-year fixed products and 5-year fixes have both been cut by up to 0.20%.

In this range, 2-year fixes are priced at 1.29% and 5-year fixes at 1.54%.

All of the products come with a £999 fee.

Henry Jordan, director of mortgages at Nationwide, said: “The mortgage market remains really competitive and many borrowers continue to like the security of fixing their mortgage repayments.

“These reductions demonstrate our commitment to offering competitive rates across the range of LTVs supporting borrowers no matter how much deposit they have.”.

The society has withdrawn all 5-year trackers today.

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