Nationwide Building Society is cutting rates on select mortgage products from tomorrow, 21 February.
Rates will be cut by a maximum of 0.33 percentage points, with rates now starting from 4.09%.
For new customers moving home, rate cuts of up to 0.22% on two, three and five-year fixes apply.
Highlights of the reductions in the new customers moving home range include a five-year fix at 85% LTV with a £999 fee reduced by 0.13% to 4.45%; a five-year fix at 60% LTV with a fee of £1,499 reduced by 0.05%, a two-year fix 75% LTV down 0.13% to 4.24%, with a £1,499 fee and a two-year fix at 95% LTV with no, down 0.22% to 5.42%.
For first-time buyers, reductions of up to 0.33% have been applied on products, all with fees of £999.
Among the rate changes for FTBs, a three-year fix at 60% LTV is down 0.5% to 4.29%; two year fix at 80% LTV is down 0.33% to 4.50% and two-year fix at 95% is down 0.25% to 5.29%.
The lender is also reducing rates for existing customers moving home by up to 0.22%, with rates now starting from 4.09%.
Nationwide senior manager – mortgages Carlo Pileggi says: “As one of the UK’s largest lenders, we remain as committed as ever to supporting home movers and first-time buyers, with these reductions following our cuts for remortgage and switcher customers last week.
“These latest reductions bring five-year and two-year fixed rates closer together, with our first-time buyer £999 fee products fully aligned across both terms. We now have some of the most competitive rates on the market, whether it be for first-time buyers or customers moving home.”
