Overview
- Nationwide cut selected two-, three- and five-year fixed mortgages by up to 0.18 percentage points effective September 19, with its lowest rate now 3.80% for new and existing customers.
- The changes focus on first-time buyers and movers, including a three-year fix at 85% LTV reduced to 4.34%, a three-year fix at 95% LTV trimmed to 5.21%, and a two-year fix at 60% LTV priced at 3.80% with a £1,499 fee.
- The Mortgage Works, Nationwide’s buy-to-let arm, reduced selected two- and five-year fixed products by up to 0.15 percentage points on September 18.
- Nationwide has notified customers that interest on many savings accounts will fall by 0.20% to 0.25% from October 1, citing the Bank of England’s base rate reduction.
- Rates on the FlexOne Saver and Flex Regular Saver accounts will remain unchanged, and the mortgage cuts run counter to recent increases by Halifax, Santander and Barclays.