Nationwide Lowers Mortgage Rates to 3.64%
Nationwide has further reduced its mortgage rates, now offering a competitive deal at 3.64%. This market-leading rate applies to home movers opting for a two-year fixed rate mortgage at 60% loan-to-value (LTV), requiring borrowers to have at least 40% equity. A fee of £1,499 is associated with this offer.
Wider Rate Cuts Across Mortgage Products
The lender has implemented cuts of up to 0.25% across its mortgage range, benefiting not only home movers but also first-time buyers and remortgagers. These reductions come as other lenders, including TSB, have also lowered their mortgage rates recently, contributing to some of the most affordable rates seen in three years.
Expert Insight from Nationwide
Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re making rate cuts across the majority of our fixed rate mortgage range with a number of sub-4% products and a market-leading rate for home movers. These changes will put Nationwide firmly on the radar for all borrower types as we aim to position the country’s largest building society as one of the most competitively priced lenders in the market.”
Urgency to Act on New Rates
The new reduced rates took effect on Wednesday, 5 November. Borrowers are encouraged to act promptly to take advantage of these lower mortgage prices in the current market.
Summary
Nationwide’s rate cuts offer highly competitive mortgage deals, making it an attractive choice for various borrowers seeking affordable financing options.