Nationwide reduces rates for loyalty rate mortgages initiative

Nationwide is reducing selected rates for existing Nationwide mortgage customers looking for a new deal.

As part of the Nationwide Loyalty Rate Mortgages initiative, which compares the Society’s mortgage rates for existing customers to those of its top six high street competitors, selected switcher rates will be reduced by up to 0.45%.

The Loyalty Rate Mortgages changes are as follows:

Two year fixed rates

70 per cent LTV two year fixed rate with a £999 fee reduced to 1.89%.

75 per cent LTV two year fixed rate with a £999 fee reduced to 1.89%.

80 per cent LTV two year fixed rate with a £999 fee reduced to 2.29%.

Five year fixed rates

70 per cent LTV five year fixed rate with a £999 fee reduced to 2.94%.

75 per cent LTV five year fixed rate with a £999 fee reduced to 3.04%.

80 per cent LTV five year fixed rate with a £999 fee reduced to 3.44%.

Two year tracker rates

60 per cent LTV two year tracker rate with a £999 fee reduced to 1.44%.

70 per cent LTV two year tracker rate with a £999 fee reduced to 1.44%.

75 per cent LTV two year tracker rate with a £999 fee reduced to 1.44%.

80 per cent LTV two year tracker rate with a £999 fee reduced to 1.94%.

Existing mortgage customers already benefit from an additional 0.10% discount on new customer rates.

The Loyalty Rate Mortgages initiative is only available to Nationwide’s existing mortgage customers who are looking to switch deal. Nationwide does offer a core range of competitive rates for all mortgage applicants, as well as a £500 discount on mortgage fees for first time buyers.

For more information, visit nationwide.co.uk.