From tomorrow, Wednesday 24 January, Nationwide Building Society will reduce capped prices by up to 0.81% and introduce a new range of fixed and tracked price products with a fee of £1,499.
These changes mean Nationwide interest rates start at 3.84%, their lowest level in eight months.
For new customers moving home, the lender has introduced discounts of up to 0.80% on 2, 3, 5 and 10-year fixed rate products up to 95% loan-to-value (LTV) as well as launching a new £1,499 fee product.
This includes a 5-year fixed rate of 60% LTV with a £1,499 fee of 3.85%, a 3-year fixed rate of 75% LTV with a £999 fee of 4.24%, and a 2-year fixed rate of 85% Of lasting value. With a fee of £1,499 at 4.49%, a two-year tracker rate of 60% LTV with a fee of £1,499 at 5.35%.
For first-time buyers, Nationwide is set to offer discounts of up to 0.74% across 2, 3, 5 and 10 year fixed rate products of up to 95% LTV as well as launching new £1,499 fee products.
These changes include a 5-year fixed rate at 60% LTV with a £1,499 fee of 3.85%, and a 3-year fixed rate at 75% LTV with a £999 fee of 4.34%.
In addition, remortgage customers will also benefit from discounts of up to 0.80% across 2, 3, 5 and 10 year fixed rate products up to 90% LTV, as well as the launch of new £1,499 charge products.
This includes a 5-year fixed rate at 60% LTV with a £999 fee of 3.88%, a 3-year fixed rate at 75% LTV with a £999 fee of 4.50%, and a 2-year fixed rate at 60% LTV. LTV. With a fee of £1,499 at 4.33% and a two-year tracker rate of 75% LTV with a fee of £1,499 at 5.50%.
Nationwide is also reducing rates on select 2, 3, 5 and 10 year 95% switches by up to 0.81% with rates starting at 3.84%.
These latest changes also continue Nationwide’s existing mortgage member pricing pledge, meaning converter product prices will be the same as or lower than remortgage equivalents.
Henry Jordan, Home Director at Nationwide Building Society, said: “As one of the country’s largest lenders, we remain more committed than ever to supporting borrowers.
“These latest changes mean we are now offering prices below four per cent for the first time in eight months.
“These reductions will ensure we have some of the lowest rates in the market for all types of borrowers whether they are first time buyers, home movers or those looking to remortgage or switch a deal.”