Nationwide reduces fixed rates and trims trackers

Nationwide is to reduce the majority of its fixed and tracker mortgage rates by up to 0.65% from Friday 1 July 2011. The reduction means Nationwide now offers a Best Buy five-year fixed rate at 70% LTV of just 3.89%.

Martyn Dyson, head of mortgages at Nationwide, said: "This suite of rate reductions across our fixed and tracker mortgages will be further welcome news to customers, even those with smaller deposits. Our best buy five-year fixed rate offers outstanding value and reassurance for those customers concerned about future interest rate movements.

"It's a real demonstration of our mutual difference that we continue to provide really competitive deals to our mortgage customers, and part of our ongoing commitment to get Britain moving."

Five-year fixed rate available at 3.89% (up to 70% LTV)

£900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase, remortgage and switcher customers.
£500 product fee discount for first time buyers.
Other rates up to 85% LTV also available.
Fee free deals are also available.

Three-year fixed rate available at 3.59% (up to 70% LTV)

£900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase, remortgage and switcher customers.
£500 product fee discount for first time buyers.
Other rates up to 85% LTV also available.
Fee free deals are also available.

Two-year fixed rate available at 4.44% (up to 85% LTV)

£900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase, remortgage and switcher customers.
£500 product fee discount for first time buyers.
Fee free deals are also available.

Also improving are tracker rates at 75%, 80% and 85% LTV.  For example;

Two-year tracker rate available at 3.84% (up to 85% LTV)

£900 product fee, £99 booking fee (payable upfront and non-refundable)

The limited offer of a £500 discount off product fees for all home movers expires with effect from 30th June 2011. However, first-time buyers will continue to benefit from a £500 product fee discount on all £900 fee products.