Nationwide Building Society has restructured its mortgage range, reducing rates on its high LTV (loan to value) products.
Rates on 80, 85 and 90 per cent LTV products have been reduced by up to 0.20 per cent, while rates on the 70 per cent LTV mortgage have been increased to 0.10 per cent.
Main Details:
Reduce all 85 and 90 per cent LTV rates by 0.20 per cent
Reduce all 80 per cent LTV rates by 0.10 per cent
Increase all 70 per cent LTV rates by 0.10 per cent
60 per cent LTV tier across all products, priced 0.10 per cent below 70 per cent LTV equivalent rates
Nationwide’s mortgage range now includes:
Two-year fixed rate available for new customers at 3.99 per cent (up to 90 per cent LTV), 3.89% for existing customers
£900 product fee for house purchase and existing customers moving home
£400 product fee for first-time buyers
£99 booking fee (payable upfront and non-refundable)
Two-year fixed rate available for new customers at 3.14 per cent (up to 85 per cent LTV), 3.04 per cent for existing customers
£900 product fee for house purchase, remortgage and existing customers moving home
£400 product fee for first-time buyers
£99 booking fee (payable upfront and non-refundable)
Five-year fixed rate available for new customers at 3.09 per cent (up to 60 per cent LTV), 2.99 per cent for existing customers
£900 product fee for house purchase, remortgage and existing customers moving home
£400 product fee for first-time buyers
£99 booking fee (payable upfront and non-refundable)
Tracie Pearce, head of group mortgages at Nationwide, said: “This re-price is aimed at helping those who need it most – first time buyers. Our mortgage lending currently helps more than one in every five first time buyers get the key to their own front door. As we announced earlier this week, our Save to Buy scheme has proved to be a great success and in the last three years, we have helped thousands of aspiring home buyers.
“Whilst we look to maintain all round competitiveness in our pricing to help maintain the healthy recovery in the housing market, our main priority is providing affordable mortgages to first time buyers and customers with low deposits.”
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