Mortgage rates as low as 3.64% as Nationwide makes more cuts - what MORTGAGE

Nationwide Lowers Mortgage Rates to 3.64%

Nationwide has reduced its mortgage rates again, now offering a competitive deal with a 3.64% interest rate. This offer is targeted at home movers opting for a two-year fixed-rate mortgage with a 60% loan-to-value (LTV), requiring at least 40% equity. The deal includes a £1,499 fee.

Rate Cuts Across Mortgage Ranges

The lender has cut rates by up to 0.25% across its mortgage products, benefiting not only home movers but also first-time buyers and those remortgaging. This move follows similar rate reductions by TSB and other lenders over the past week.

Market Impact and Broker Insights

Mortgage brokers suggest that borrowers are now able to access some of the most affordable rates seen in the last three years.

“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,” said Carlo Pileggi, Nationwide’s head of mortgage products.

“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.”

Urgency for Borrowers

The latest reductions took effect on Wednesday, 5 November, and borrowers are encouraged to act quickly to secure these lower rates.

Author’s summary: Nationwide’s recent mortgage rate cuts create one of the market’s most affordable offers, benefiting a wide range of borrowers and prompting swift action from potential buyers.

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