Overview
- The reductions take effect today, 13 February, across two-, three- and five-year fixes for first-time buyers, home movers, remortgagers and switchers.
- Nationwide’s most competitive rate is now 3.54% for a two-year fix at 60% LTV for movers, with a £1,499 fee.
- Cuts are up to 0.16 percentage points for first-time buyers (to 95% LTV), up to 0.15 points for movers and remortgages (to 95% and 90% LTV), and up to 0.11 points for switchers (to 90% LTV).
- First-time buyers get £500 cashback on completion, with up to £500 extra available through the Green Reward for energy-efficient homes.
- The society reaffirmed its pledge that switcher rates will match or undercut equivalent remortgage deals, while brokers say the move could spur rivals to cut.