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Nationwide reduces rates and introduces new product

Jessica Nangle

February 23, 2021

On Wednesday 24 February, Nationwide is reducing rates on selected mortgages across its range by up to 0.20% and introducing a new 60% LTV product.

The rate reductions have been made on the house purchase, first-time buyer, remortgage and shared equity ranges.

Highlights include a reduction of up to 0.20% on selected 2 and 5-year fixed rates on the house purchase range, including the 5-year fixed rate at 60% LTV with a £999 fee reduced by 0.05% from 1.39% to 1.34%.

Rates will be reduced by up to 0.10% on selected 2 and 5-year fixed rates in the first-time buyer range, including the 2-year fixed rate at 90% LTV with a £999 fee reduced by 0.05% from 3.24% to 3.19%.

Selected 2 and 5-year fixed rates have been reduced by up to 0.05% on the remortgage range, including the 5-year fixed rate at 60% LTV with a £999 fee reduced by 0.05% from 1.39% to 1.34%.

On the shared equity range, the 5-year fixed rate at 75% LTV with no fee reduced by 0.05% from 2.29% to 2.24%.

The society is also launching a new 60% LTV mortgage with a £1,499 fee for house purchase, first-time buyers and existing customers moving home with a rate of 1.14%.

Rates on the society’s existing customer moving home and further advance ranges will continue to be aligned to the lowest rates Nationwide offers new customers, and will see reductions of up to 0.15%.

Henry Jordan, director of mortgages at Nationwide, said: “As the country’s second largest mortgage lender, it’s important we demonstrate to all types of borrower that Nationwide continues to offer a wide range of mortgages with some of the most competitive rates on the market.

“That is why we’re making these latest reductions across a variety of LTVs as well as extending our £1,499 fee product to now make it available to first-time buyers and house purchase.”


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