Mortgages  

Nationwide reduces rates for existing customers

Nationwide is reducing selected 5-year fixed rates for existing mortgage customers looking for a new deal from tomorrow (5 November).

Selected switcher rates will be reduced by 0.1 per cent as part of the initiative, which compares the society’s mortgage rates for existing customers to those of its top six high street competitors.

For 5-year fixed rates, it is offering a 75 per cent loan-to-value deal, with a £999 fee reduced by 0.1 per cent to 2.84 per cent. A 75 per cent LTV 5-year fixed rate is also available, with no fee and has been reduced by 0.1 per cent to 3.04 per cent.

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The deals are only available to Nationwide’s existing mortgage customers who are looking to switch deal.

Existing mortgage customers already benefit from an additional 0.1 per cent discount on new customer rates.

The bank offers a core range of rates for all mortgage applicants, as well as a £500 discount on mortgage fees for first time buyers.

ruth.gillbe@ft.com