Nationwide Building Society is today cutting rates on a number of fixed-rate deals for customers with small deposits.
The organisation said it was reducing rates by up to 0.35% on a range of two- three- and five-year deals available at 85% and 90% loan-to-value (LTV).
At 90% LTV, rates start at 3.14% for two years, 3.49% for three years and 3.74% for five. Rates are also being cut on the Flexclusive range of mortgages, which are only available to the society’s current account customers.
Here, four-year deals are available at 90% LTV for 3.59% with a £999 fee or 3.84% with no fee.
Henry Jordan, Nationwide’s head of mortgages, said: “We are offering a range of reductions to both new and existing customers across the range, particularly focussing on customers who have smaller deposits and are looking for payment security over the short, medium and longer term. The new rates will especially benefit first-time buyers, with a competitive two-year fixed-rate mortgage product with a £999 fee available up to 90% LTV reduced by 0.1% to 3.14%.
“First-time buyers will also qualify for £500 cashback irrespective of which product they chose. This is in addition to the benefits available on the Flexclusive range of mortgages, and a cashback of up to £1,000 available on the Save to Buy mortgage deals. With a number of cashback offers and rate reductions available to mortgage customers, we can offer tangible benefits when choosing a Nationwide mortgage, whether opting for a product without or without a fee.”