Nationwide lowers fixed mortgage rates again as swap rates continue to fall

Nationwide has announced further reductions to its fixed-rate mortgage products, extending its ongoing series of cuts amid declining swap rates, offering lower rates to first-time buyers, home movers, and remortgagers.

Nationwide has trimmed rates across its fixed mortgage range again, extending a series of reductions made over recent weeks as swap rates continue to soften. The lender said the latest cuts, effective from Tuesday, apply to selected two-, three- and five-year fixed products for first-time buyers, home movers and remortgagers.

For first-time buyers, Nationwide has lowered rates by as much as 10 basis points on selected deals up to 95% loan-to-value. Among the changes, its five-year fixed deal at 90% LTV with a £999 fee now stands at 4.82%, while a three-year fixed mortgage at 60% LTV with no fee has fallen to 4.99%. A two-year fixed product at 95% LTV with no fee has been cut to 5.34%.

Home movers are also seeing reductions of up to 10 basis points on selected fixed-rate products up to 95% LTV. Nationwide said its five-year fixed mortgage at 90% LTV with a £999 fee has dropped to 4.81%, while a two-year fixed deal at 60% LTV with a £1,499 fee has been cut to 4.48%.

Remortgage borrowers have received the steepest reductions, with cuts of up to 15 basis points across selected two-, three- and five-year fixes up to 90% LTV. That includes a three-year fixed mortgage at 60% LTV with no fee, now priced at 4.94%.

Carlo Pileggi, head of mortgage products at Nationwide, said the latest move builds on cuts made earlier in August and brings the lender’s lowest rate back below 4.5% for new and existing borrowers moving home. The fresh reductions follow a run of earlier pricing changes in April, June and July, when Nationwide repeatedly lowered fixed-rate deals across its core lending ranges as market funding costs eased.