Further mortgage rate reductions announced by Nationwide
May 16, 2025 by Heidi
Rates
A further set of reductions in mortgage rates has been announced by Nationwide, with these latest cuts set to affect the remortgage and switcher products offered by the lender.
The maximum cuts that have been announced for products in those two ranges are 0.22%. It means that the lowest rate available for remortgage products is now 3.84%, with borrowers able to access that rate for either the fixed five-year or two-year product. That particular deal also comes with loan to value (LTV) of 60% and a product fee of £1,499.
When it comes to the rates for products in the Nationwide switcher range, the lowest available is now 3.84%. This is only available to people who already have a mortgage with Nationwide, and it comes with a lower product fee of £999.
The lender has reduced its switcher and remortgage rates across a number of fixed five-, three- and two-year loans. It is a fixed three-year loan that comes with the biggest reduction of all. In that case, the rate has been cut to 4.89%. The fee for that product now stands at £999.
The senior mortgages manager at Nationwide is Carlo Pileggi. He spoke to Financial Reporter after the reductions were announced:
“Our fourth set of rate cuts in three weeks shows how we are working hard to support all types of borrowers.”
He added that the latest round of cuts were designed to help both current Nationwide customers and any new ones.
Those with the CeMAP mortgage advisor qualification will always be happy to see rates coming down.
Written by
Heidi
You may also interested in:
Residential rate reductions announced by Barclays
Barclays has announced a number of reductions to its mortgage rates, with these set to affect products from within its residential mortgage range.
Rate cuts revealed by Santander
Santander UK has announced a number of cuts to its mortgage rates, with these set to apply across the buy-to-let, remortgage and purchase product ranges.
