Mortgage Rates Drop to 3.64% as Nationwide Slashes Prices
Nationwide has once again lowered its mortgage rates, now offering a competitive deal with a 3.64% rate. This market-leading rate applies to borrowers moving home who choose a two-year fixed mortgage at 60% loan-to-value (LTV), requiring at least 40% equity. The offer carries a £1,499 fee.
Wider Reductions Across Mortgage Range
The lender has also cut rates by up to 0.25% across its entire mortgage portfolio, benefiting first-time buyers and remortgagers alike. This move follows similar reductions announced by TSB and other lenders within the past week, signaling a trend toward more affordable mortgage pricing.
Industry Perspective
Brokers note that borrowers can now access some of the lowest mortgage rates seen in the last three years.
Comment from Nationwide
Carlo Pileggi, Nationwide’s head of mortgage products, stated: “We’re making rate cuts across the majority of our fixed rate mortgage range with a number of sub-4% products and a market-leading rate for home movers. These changes will put Nationwide firmly on the radar for all borrower types as we aim to position the country’s largest building society as one of the most competitively priced lenders in the market.”
Call to Action
These new rate reductions took effect on Wednesday, 5 November, but borrowers are encouraged to act quickly to benefit from this lower-cost mortgage environment.
Author’s summary: Nationwide’s recent mortgage rate cuts create some of the most affordable borrowing options in years, encouraging homeowners and buyers to take advantage promptly.