Nationwide cuts rates on 90pc LTV range

Robyn Hall

December 3, 2012

The 2-year 90% LTV fixed rates will be reduced by 0.70% available from 4.49% and 4.39% for existing customers and 3-year fixed rates will be reduced by 0.60% from 4.69%, 4.59% for existing customers with a £900 product fee discounted to £400 for first-time buyers and a £99 booking fee with a no product fee option available.

And 5-year fixed rates will be reduced by 0.50% available from 4.99% and 4.89% for existing customers while other fixed and tracker rates will be reduced by up to 0.40%.

Tracie Pearce, Nationwide’s head of mortgages, said: “We’ve cut our rates a number of times over the last few weeks and not just for those with a large deposit. This time we will continue to make reductions across the board but our largest cuts are on loans with an LTV of 90%.”

Pearce said it was a tangible demonstration of how Nationwide are utilising the Funding for Lending Scheme to reduce rates for its customers at both ends of the LTV spectrum.

And she added: “We hope it gives first-time buyers and other borrowers the boost they need to get the mortgage and home that they are looking for.

“The message is very clear Nationwide is open for business.”

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