Nationwide is making changes to selected two-, three-, five- and ten-year fixed rate products, as well as two-year tracker mortgages, cutting some rates while raising others.
For first time buyers and house purchases, two- and five-year fixed and two-year tracker rates at 60 per cent LTV are reduced by up to 0.40 percentage points.
For existing borrowers looking to purchase, five-year fixed rates at 60 per cent LTV are reduced by up to 0.10 percentage points.
Other changes include five-year fixed remortgage rates at 60 per cent LTV reduced by up to 0.10 percentage points.
The reductions are in contrast to observations by some mortgage brokers that rates are increasing across the board.
However, the building society is also increasing rates by up to 0.35 percentage points on selected fixed-rate and tracker switcher products up to 95 per cent LTV.
Henry Jordan, director of mortgages at Nationwide, said: “With rates continually changing across the mortgage market at all LTVs, it’s important that Nationwide, as the UK’s second biggest lender, continues to offer attractive mortgage rates on both fixed and tracker mortgages.
“These latest changes will ensure we do so, while also re-affirming our support for borrowers with larger deposits.”
On October 27 the building society said it remained the largest lender “consistently” offering 90 per cent mortgages to first time buyers.
Nationwide rate changes
First time buyers and house purchase | ||||
|---|---|---|---|---|
| Rate type | LTV | Product fee | Rate | Notes |
| 2 year fixed rate | 0% - 60% | £999 | 1.34% | Reduced by 0.40% |
| 5 year fixed rate | 0% - 60% | £999 | 1.44% | Reduced by 0.35% |
| 2 year fixed rate | 0% - 60% | £999 | 1.64% | Reduced by 0.20% |
First time buyers and house purchase (Shared Equity) | ||||
|---|---|---|---|---|
| Rate type | LTV | Product fee | Rate | Notes |
| 2 year fixed rate | 0% - 60% | £999 | 1.44% | Reduced by 0.30% |
| 5 year fixed rate | 0% - 60% | £999 | 1.74% | Reduced by 0.15% |
| 2 year fixed rate | 0% - 60% | £999 | 1.64% | Reduced by 0.20% |
Remortgage | ||||
|---|---|---|---|---|
| Rate type | LTV | Product fee | Rate | Notes |
| 5 year fixed rate | 0% - 60% | £1,499 | 1.39% | Reduced by 0.10% |
| 5 year fixed rate | 0% - 60% | £999 | 1.44% | Reduced by 0.10% |
Existing borrowers house purchase | ||||
|---|---|---|---|---|
| Rate type | LTV | Product fee | Rate | Notes |
| 5 year fixed rate | 0% - 60% | £999 | 1.44% | Reduced by 0.10% |
Existing borrowers house purchase (Shared Equity) | ||||
|---|---|---|---|---|
| Rate type | LTV | Product fee | Rate | Notes |
| 2 year fixed rate | 0% - 60% | £999 | 1.44% | Increased by 0.30% |
| 5 year fixed rate | 0% - 60% | £999 | 1.74% | Increased by 0.15% |
| 2 year tracker rate | 0% - 60% | £999 | 1.64% | Increased by 0.20% |
Switchers | ||||
|---|---|---|---|---|
| Rate type | LTV | Product fee | Rate | Notes |
| 2 year fixed rate | 0% - 60% | £0 | 1.59% | Increased by 0.05% |
| 2 year fixed rate | 75.01% - 80% | £999 | 1.64% | Increased by 0.10% |
| 2 year fixed rate | 75.01% - 80% | £0 | 2.19% | Increased by 0.35% |
| 2 year fixed rate | 80.01% - 85% | £999 | 2.19% | Increased by 0.10% |
| 2 year fixed rate | 80.01% - 85% | £0 | 2.84% | Increased by 0.35% |
| 2 year fixed rate | 85.01% - 90% | £999 | 2.94% | Increased by 0.15% |
| 2 year fixed rate | 85.01% - 90% | £0 | 3.24% | Increased by 0.25% |
| 2 year fixed rate | 90.01% - 95% | £999 | 3.29% | Increased by 0.25% |
| 2 year fixed rate | 90.01% - 95% | £0 | 3.44% | Increased by 0.25% |
| 3 year fixed rate | 0% - 60% | £0 | 1.69% | Increased by 0.05% |
| 3 year fixed rate | 60.01% - 75% | £999 | 1.54% | Increased by 0.05% |
| 3 year fixed rate | 75.01% - 80% | £999 | 1.84% | Increased by 0.05% |
| 3 year fixed rate | 75.01% - 80% | £0 | 2.24% | Increased by 0.30% |
| 3 year fixed rate | 80.01% - 85% | £0 | 2.84% | Increased by 0.35% |
| 3 year fixed rate | 85.01% - 90% | £999 | 3.34% | Increased by 0.30% |
| 3 year fixed rate | 85.01% - 90% | £0 | 3.54% | Increased by 0.30% |
| 5 year fixed rate | 75.01% - 80% | £0 | 2.24% | Increased by 0.30% |
| 5 year fixed rate | 80.01% - 85% | £0 | 2.84% | Increased by 0.35% |
| 5 year fixed rate | 85.01% - 90% | £999 | 3.34% | Increased by 0.30% |
| 5 year fixed rate | 85.01% - 90% | £0 | 3.54% | Increased by 0.30% |
| 10 year fixed rate | 0% - 60% | £0 | 2.39% | Increased by 0.15% |
| 10 year fixed rate | 80.01% - 85% | £999 | 3.04% | Increased by 0.25% |
| 10 year fixed rate | 80.01% - 85% | £0 | 3.14% | Increased by 0.25% |
| 10 year fixed rate | 85.01% - 90% | £999 | 3.49% | Increased by 0.25% |
| 10 year fixed rate | 85.01% - 90% | £0 | 3.59% | Increased by 0.25% |
| 2 year tracker rate | 0% - 60% | £999 | 1.34% | Increased by 0.10% |
| 2 year tracker rate | 0% - 60% | £0 | 1.69% | Increased by 0.15% |
| 2 year tracker rate | 75.01% - 80% | £999 | 1.74% | Increased by 0.05% |
| 2 year tracker rate | 75.01% - 80% | £0 | 2.29% | Increased by 0.05% |
| 2 year tracker rate | 80.01% - 85% | £0 | 2.94% | Increased by 0.05% |
| 2 year tracker rate | 85.01% - 90% | £999 | 3.04% | Increased by 0.35% |
| 2 year tracker rate | 85.01% - 90% | £0 | 3.34% | Increased by 0.20% |
| 2 year tracker rate | 90.01% - 95% | £999 | 3.39% | Increased by 0.35% |
| 2 year tracker rate | 90.01% - 95% | £0 | 3.54% | Increased by 0.35% |
chloe.cheung@ft.com
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