Nationwide cuts fixed rates on high-LTV loans...

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10 May 2016

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By Harvey Jones

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Nationwide cuts fixed rates on high-LTV loans

Nationwide has announced that it is cutting fixed rates on smaller deposit mortgages.

The building society is reducing selected fixed rate mortgages at 85%, 90% and 95% LTV by up to 0.20%.

The deals also include fee-free valuations for mortgage customers and £500 cashback for all first-time buyers.

The reductions are being made across a range of two, three and five-year fixed rates.

Rates at 95% LTV now start at 3.99% for a two-year fixed rate mortgage with a £999 fee, falling to 2.49% at 90% LTV and 1.94% at 85% LTV, all with a £999 fee.

Buyers opting for a five-year fixed rate will see rates fall to 2.99% to 85% LTV, 3.29% to 90% LTV and 4.79% to 95% LTV, all with a £999 fee.

All mortgage valuations are now fee-free, while first time buyers are able to access a £500 cashback to help with the cost of moving.

Nationwide Flex main current account holders who are taking out a Nationwide mortgage are also eligible for an additional £250 cashback.

Henry Jordan, Nationwide’s head of mortgages, said: “We are reducing rates for those with smaller deposits who are looking for competitive rates and payment security over a range of terms, with a focus on first-time buyers who will continue to qualify for a £500 cashback.”