Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Nationwide, Family Building Society and Fleet Mortgages Announce Rate Cuts and Product Updates
Nationwide is reducing rates across its fixed mortgage range by up to 25 basis points, with changes effective from Friday 26 June. Family Building Society and Fleet Mortgages have also updated their lending ranges, introducing new products and rate reductions.
Nationwide’s rate cuts apply to new and existing customers, including first-time buyers, home movers, remortgage customers, and switchers. The reductions affect two, three, five, and ten-year fixed products, with the lowest fixed rate now at 4.19%. First-time buyer rates are reduced by up to 18bps on products up to 95% loan-to-value (LTV). Specific new rates include a three-year fixed at 75% LTV with a £999 fee at 4.69%, a five-year fixed at 85% LTV at 4.62%, and a two-year fixed at 90% LTV at 4.82%. First-time buyers continue to receive £500 cashback on completion and may also qualify for up to £500 cashback through Nationwide’s Green Reward for energy-efficient homes.
Remortgage rates are cut by up to 0.25%, with a two-year fixed at 60% LTV with a £999 fee now at 4.49%, and a three-year fixed at 75% LTV with no fee at 4.94%. Switcher products for existing customers are reduced by up to 14bps, and home mover rates are reduced by up to 15bps. For home movers, a two-year fixed at 60% LTV with a £1,499 fee is now 4.19%, and a five-year fixed at 90% LTV with a £999 fee is now 4.69%.
Family Building Society has launched new two-year interest-only tracker products for owner-occupiers and buy-to-let landlords, including limited company SPV borrowers. The lender has also reintroduced five-year fixed HMO products for UK and expat landlords. Two-year fixed rates are cut by 30bps, and five-year UK landlord rates are cut by 10bps.
Fleet Mortgages has updated its buy-to-let range, adding new two-year 75% fixed rate products with zero product fees for standard and limited company borrowers. The lender has also introduced 75% LTV HMO and MUFB products, each with £1,000 cashback. Rates are reduced by 10bps to 30bps across selected products, and fees are cut on selected five-year fixed products, with some reductions up to £2,500. Fleet’s new products will be available from 9am on Friday 26 June 2026.
These changes may be relevant for letting agents and inventory clerks working with landlords and tenants seeking new mortgage options or refinancing.
Source: Mortgage Strategy