Following many recent reductions to Nationwide’s fixed rate mortgage deals, the lender has now applied further cuts of up to 0.2% to a selection of products, with five year fixed rates now available at less than 2%.
The lowest 5 and 10 year fixed rate mortgages available now include Nationwide’s five year fixed rate starting from 1.99% with a £999 fee or 2.19% with no fee. The lender has also cut rates across its three and ten year fixed rate products, with three year fixed rates starting from 1.69% with a £999 fee or 1.99% with no fee.
Ten year fixed products are now available at their lowest recorded rate, starting from just 2.69% with a £999 fee or 2.79% with no fee up to 60% loan to value (LTV). New 95% LTV products are also set to be added to the lender’s tracker mortgage range, with an introductory rate of 3.59% plus a £999 fee, or at 3.99% with no fee.
Existing Nationwide customers can now benefit from £250 cashback when they take out a new mortgage deal, while continuing to receive a 0.1% discount on new customer rates. New deals from the lender are complemented by an additional range of benefits for first time buyers and home-movers. All standard mortgage valuations are now free, while first time buyers can receive £500 cashback to aid the cost of moving. Nationwide current account holders will also receive an additional £250 cashback.
Meanwhile, Clydesdale & Yorkshire Building Societies have also launched the lowest five year fixed rate at 85% LTV that they have ever offered.
The new range of mortgages now includes a five year fixed rate at 2.44% up to 85% LTV, plus a selection of new three year fixed rates at 2.89% up to 90% LTV. A two-year residential fixed rate is also available at 2.19% up to 90% LTV or 3.19% for a five-year fix.
Remortgage rates have also now been reduced, with products starting from 1.89%, available up to 60% LTV.