Nationwide Cuts Mortgage Rates for First-Time Buyers from June 16
Nationwide Cuts Mortgage Rates for First-Time Buyers

Nationwide Building Society has unveiled a series of reductions across its fixed mortgage rate range, set to take effect from June 16. The lender aims to support first-time buyers, home movers, and those remortgaging with lower rates.

New Rates from June 16

The new rates will be effective from tomorrow (June 16). Nationwide's head of mortgage products, Carlo Pileggi, stated: “We’re delighted to be cutting rates again as we look to put Nationwide at the forefront of borrowers’ minds. These changes will support first-time buyers and home movers, as well as provide competitive options for those looking to remortgage.” He added that the cuts follow last week's reductions for existing customers, underlining Nationwide's role as an all-round lender.

Rate Reductions Details

Rates will decrease by up to 0.28% across two, three, five, and ten-year fixed-rate products. The lender's lowest rate now stands at 4.29%. Specific reductions include:

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First-Time Buyers

Reductions of up to 0.20% across two, three, and five-year fixed-rate products up to 95% LTV. Examples include:

  • Five-year fixed at 90% LTV with no fee: 4.89% (down 0.20%)
  • Five-year fixed at 60% LTV with £1,499 fee: 4.62% (down 0.12%)
  • Five-year fixed at 85% LTV with £999 fee: 4.67% (down 0.12%)
  • Three-year fixed at 85% LTV with £999 fee: 4.89% (down 0.10%)

Remortgage

Reductions of up to 0.28% across two, three, five, and ten-year fixed-rate products up to 90% LTV. Examples include:

  • Two-year fixed at 60% LTV with no fee: 4.83% (down 0.28%)
  • Two-year fixed at 85% LTV with £999 fee: 4.89% (down 0.15%)
  • Two-year fixed at 60% LTV with £1,499 fee: 4.56% (down 0.07%)
  • Five-year fixed at 60% LTV with £999 fee: 4.64% (down 0.10%)

Existing and New Customers Moving Home

Reductions of up to 0.17% across two, three, five, and ten-year fixed-rate products up to 95% LTV. Examples include:

  • Two-year fixed at 90% LTV with no fee: 4.99% (down 0.17%)
  • Two-year fixed at 60% LTV with £1,499 fee: 4.29% (down 0.06%)
  • Five-year fixed at 80% LTV with £999 fee: 4.59% (down 0.10%)
  • Five-year fixed at 90% LTV with £999 fee: 4.74% (down 0.10%)

These reductions aim to make homeownership more accessible and provide competitive options across the housing market.

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