Mortgage Rates as Low as 3.64% with Nationwide's Latest Cuts
Nationwide has further reduced its mortgage rates, now offering a competitive deal at 3.64%. This special rate applies to home movers opting for a two-year fixed rate mortgage with a 60% loan-to-value (LTV), requiring at least 40% equity. A fee of £1,499 is also applicable.
The lender has lowered rates by up to 0.25% across its mortgage range, benefiting first-time buyers and remortgagers alike. These reductions follow similar announcements from TSB and other lenders, marking a week of falling mortgage rates.
Industry Response and Market Impact
Brokers suggest that borrowers now have access to some of the lowest mortgage rates seen in the past three years.
Carlo Pileggi, Nationwide’s head of mortgage products, stated: “We’re making rate cuts across the majority of our fixed rate mortgage range with a number of sub-4% products and a market-leading rate for home movers.”
“These changes will put Nationwide firmly on the radar for all borrower types as we aim to position the country’s largest building society as one of the most competitively priced lenders in the market.”
The new rate cuts took effect on Wednesday, 5 November, with borrowers encouraged to act quickly to benefit from these reduced rates.
Summary
Nationwide's recent mortgage rate cuts offer some of the most affordable options in years, particularly benefiting home movers with strong equity and encouraging swift action from borrowers.