Residential  

Nationwide changes mortgage rates

Nationwide changes mortgage rates
 Credit: Jason Alden/Bloomberg

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 typeLTVProduct feeRateNotes
2 year fixed rate0% - 60%

£999 

1.34%Reduced by 0.40% 
5 year fixed rate0% - 60%

£999

1.44%Reduced by 0.35%
2 year fixed rate0% - 60%

£999

1.64%Reduced by 0.20%

First time buyers and house purchase (Shared Equity)

Rate typeLTVProduct feeRateNotes
2 year fixed rate0% - 60%

£999 

1.44%Reduced by 0.30% 
5 year fixed rate0% - 60%

£999

1.74%Reduced by 0.15%
2 year fixed rate0% - 60%

£999

1.64%Reduced by 0.20%

Remortgage

Rate typeLTV  Product fee Rate Notes
5 year fixed rate0% - 60%

£1,499

1.39%Reduced by 0.10%
5 year fixed rate0% - 60%

£999

1.44%Reduced by 0.10%

Existing borrowers house purchase

Rate typeLTV  Product fee Rate Notes
5 year fixed rate0% - 60%

£999

1.44%Reduced by 0.10%

Existing borrowers house purchase (Shared Equity)

Rate typeLTVProduct feeRateNotes
2 year fixed rate0% - 60%

£999

1.44%

Increased by 0.30%
5 year fixed rate0% - 60%

£999

1.74%Increased by 0.15%
2 year tracker rate0% - 60%

£999

1.64%Increased by 0.20%

Switchers

Rate typeLTVProduct feeRateNotes
2 year fixed rate0% - 60%

£0

1.59%

Increased by 0.05% 
2 year fixed rate75.01% - 80%

£999

1.64%

Increased by 0.10% 
2 year fixed rate75.01% - 80%

£0

2.19%

Increased by 0.35% 
2 year fixed rate80.01% - 85%

£999

2.19%

Increased by 0.10%
2 year fixed rate80.01% - 85%

£0

2.84%

Increased by 0.35%
2 year fixed rate85.01% - 90%

£999

2.94%

Increased by 0.15%
2 year fixed rate85.01% - 90%

£0

3.24%

Increased by 0.25%
2 year fixed rate90.01% - 95%

£999

3.29%

Increased by 0.25%
2 year fixed rate90.01% - 95%

£0

3.44%

Increased by 0.25%
3 year fixed rate0% - 60%

£0

1.69%

Increased by 0.05%
3 year fixed rate60.01% - 75%

£999

1.54%

Increased by 0.05%
3 year fixed rate75.01% - 80%

£999

1.84%

Increased by 0.05%
3 year fixed rate75.01% - 80%

£0

2.24%

Increased by 0.30%
3 year fixed rate80.01% - 85%

£0

2.84%

Increased by 0.35%
3 year fixed rate85.01% - 90%

£999

3.34%

Increased by 0.30%
3 year fixed rate85.01% - 90%

£0

3.54%

Increased by 0.30%
5 year fixed rate75.01% - 80%

£0

2.24%

Increased by 0.30%
5 year fixed rate80.01% - 85%

£0

2.84%

Increased by 0.35%
5 year fixed rate85.01% - 90%

£999

3.34%

Increased by 0.30%
5 year fixed rate85.01% - 90%

£0

3.54%

Increased by 0.30%
10 year fixed rate0% - 60%

£0

2.39%

Increased by 0.15%
10 year fixed rate80.01% - 85%

£999

3.04%

Increased by 0.25%
10 year fixed rate80.01% - 85%

£0

3.14%

Increased by 0.25%
10 year fixed rate85.01% - 90%

£999

3.49%

Increased by 0.25%
10 year fixed rate85.01% - 90%

£0

3.59%

Increased by 0.25%
2 year tracker rate0% - 60%

£999

1.34%

Increased by 0.10%
2 year tracker rate0% - 60%

£0

1.69%

Increased by 0.15%
2 year tracker rate75.01% - 80%

£999

1.74%

Increased by 0.05%
2 year tracker rate75.01% - 80%

£0

2.29%

Increased by 0.05%
2 year tracker rate80.01% - 85%

£0

2.94%

Increased by 0.05%
2 year tracker rate85.01% - 90%

£999

3.04%

Increased by 0.35%
2 year tracker rate85.01% - 90%

£0

3.34%

Increased by 0.20%
2 year tracker rate90.01% - 95%

£999

3.39%

Increased by 0.35%
2 year tracker rate90.01% - 95%

£0

3.54%

Increased by 0.35%

chloe.cheung@ft.com

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.