The UK’s largest building society will be reducing selected fixed rates for new and existing customers moving home by up to 0.10%, with the new rates effective from tomorrow, Friday, February 14.
Nationwide mortgage customers have been given a cool £665 boost by the lender. The UK’s largest building society will be reducing selected fixed rates for new and existing customers moving home by up to 0.10%, with the new rates effective from tomorrow, Friday, February 14.
A borrower with an average outstanding mortgage owing of £190,000, could save up to £665 in interest a year. Carlo Pileggi, Nationwide’s senior manager – Mortgages, said: “The cuts we’re making to our remortgage and switcher products demonstrate our commitment to new and existing customers as they look to secure the best rate possible on a new mortgage deal.
“Nationwide’s existing customer pricing pledge also means that existing Nationwide customers have the reassurance that our switcher product rates will be the same or lower than the remortgage equivalents.”
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The new rates include: reductions of up to 0.35% across two, three, five-year fixed rate products up to 95% LTV with rates starting from 4.12%. These latest changes also continue Nationwide’s existing mortgage customer pricing pledge, meaning that all switcher product rates will be the same or lower than the remortgage equivalents.
Switcher (for existing Nationwide customers coming to the end of their current mortgage deal): reductions of up to 0.13% across selected two, three and five-year products up to 90% LTV with rates starting from 4.12%.
New customers moving home will see reductions of up to 0.10% across two-year fixed rate products up to 90% LTV. Existing customers moving home will see reductions of up to 0.10% across two-year fixed rate products up to 90% LTV.
The latest changes again demonstrate how Nationwide continues to offer existing customers who are moving home the same or lower rate than the equivalent rates available for new customers.
Selected additional borrowing rates are also being cut by up to 0.13% with rates starting from 4.12%.