Nationwide Becomes Latest Lender To Cut Mortgage Rates

Nationwide has today joined other big name lenders in lowering mortgage rates for new and existing customers.

Following a week of cuts by providers including Barclays, Halifax and HSBC, the building society is lowering its rate offerings by up to 0.30%. The headline reductions include select 2 year Fixed purchase products by 0.20%, 2 year remortgage by 0.25%, and 5 year remortgage by 0.30%.

Existing borrowers switching product can save 0.16% on a 5 year Fix, with other rates reducing by 0.10%.

Nationwide is not the only building society announcing amendments, with Skipton decreasing rates significantly at 60% and 75% loan-to-values. 2 and 5 year purchase products have been lowered by up to 0.33% and 0.24% respectively, with remortgage rates reducing by as much as 0.20% and 0.18%.

Virgin Money have too dropped rates at higher loan to value brackets, having already reduced lower LTV products last week. Select 90% residential rates will be coming down by 0.05%, and buy to let products will improve by up to 0.22%.