Nationwide offers mortgage rate as low as 3.84% in new spate of reductions | Personal Finance | Finance

Nationwide Building Society has cut selected mortgage rates by up to 0.81 percent from today.

The changes mean Nationwide’s rates now start at 3.84 percent – its lowest level in eight months.

Henry Jordan, director of home at Nationwide Building Society, commented: “As one of the largest lenders in the country, we remain as committed as ever to supporting borrowers.

“These latest changes mean we are now offering sub-four percent rates for the first time in eight months.

“These reductions will ensure that we have some of the lowest rates on the market for all types of borrowers whether it be first-time buyers, home movers or those looking to remortgage or switch deals.”

The new rates include:

For new customers moving home, reductions of up to 0.8 percent have been made across two, three, five and 10-year fixed rate products up to 95 percent Loan To Value (LTV). Additonally, new £1,499 fee product have been launched.

• Five-year fixed rate at 60 percent LTV with a £1,499 fee is 3.85 percent (New product)
• Three-year fixed rate at 75 percent LTV with a £999 fee is 4.24 percent (reduced by 0.75 percent )
• Two-year fixed rate at 85 percent LTV with a £1,499 fee is 4.49 percent (New product)
• Two-year tracker rate 60 percent LTV with a £1,499 fee is 5.35 percent (New product).

For first-time buyers, reductions of up to 0.74 percent have been made across two, three, five and 10-year fixed rate products up to 95 percent LTV, plus the launch of new £1,499 fee products, including:

• Five-year fixed rate at 60 percent LTV with a £1,499 fee is 3.85 percent (New product)
• Three-year fixed rate at 75 percent LTV with a £999 fee is 4.34 percent (reduced by 0.74 percent)
• Two-year fixed rate at 85 percent LTV with a £1,499 fee is 4.56 percent (New product)
• Two-year tracker rate 60 percent LTV with a £1,499 fee is 5.5 percent (New product)

For those who are remortgaging, reductions of up to 0.8 percent have been made across two, three, five and 10-year fixed rate products up to 90 percent LTV, plus the launch of new £1,499 fee products, including:

• Five-year fixed rate at 60 percent LTV with a £999 fee is 3.88 percent(reduced by 0.80 percent)
• Three-year fixed rate at 75percent LTV with a £999 fee is 4.5 percent (reduced by 0.39 percent)
• Two-year fixed rate at 60 percent LTV with a £1,499 fee is 4.33 percent (New product)
• Two-year tracker rate 75 percent LTV with a £1,499 fee is 5.5 percent (New product)

Nationwide is also reducing selected two, three, five and ten-year switcher rates at 95 percent by up to 0.81 percent with rates starting from 3.84 percent.

These latest changes continue Nationwide’s existing mortgage member pricing pledge, meaning the switcher product rates will be the same or lower than the remortgage equivalents.

Full details of all rates included in these latest changes can be found here.