Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Nationwide Announces Mortgage Rate Cuts Across Fixed Products

Nationwide has announced reductions in its mortgage rates, with cuts of up to 0.19 percentage points across two-, three-, and five-year fixed rate products. The changes apply to new and existing first-time buyers, homemovers, and remortgage clients.

The lender’s lowest rate is now 4.52%. For first-time buyers, reductions of up to 0.19 percentage points will be made across two-, three-, and five-year fixed rate products up to 95% loan-to-value (LTV). Specifically, the two-year fixed rate at 95% LTV with a £999 fee is now 5.25%, down by 0.19 percentage points. The three-year fixed rate at 60% LTV with a £999 fee is 4.69%, reduced by 0.15 percentage points.

Within the homemover range, the two-year fixed rate at 60% LTV with a £1,499 fee has been reduced by 0.02 percentage points to 4.52%. For remortgage clients, cuts of up to 0.13 percentage points have been made. The five-year fixed rate at 75% LTV with a £999 fee is now 4.81%, down by 0.13 percentage points. The three-year fixed rate at 85% LTV with a £999 fee is 4.99%, reduced by 0.1 percentage points.

These changes follow a period of rate increases in recent weeks, despite swap rates being maintained. The adjustments are intended to benefit a wide range of customers, including first-time buyers, homemovers, and those remortgaging to Nationwide.

Letting agents and inventory clerks may wish to note these changes, as shifts in mortgage rates can influence buyer and renter activity in the UK property market.