Great news for Nationwide Building Society mortgage members! The society is pleased to announce a reduction in rates on its switcher mortgage products, offering potential savings of up to 0.35%.
For those unaware, switcher products are tailored to Nationwide mortgage holders who are approaching the end of their existing deals and are in search of new mortgage options.
Here are the specifics: reductions of up to 0.35% are applicable to selected two, three, and five-year fixed products, while two-year tracker products are reduced by up to 0.20%. Let's take a look at some examples:
- Five-year fixed rate at 60% LTV with a £999 fee is now 5.24% (reduced by 0.25%).
- Two-year fixed rate at 60% LTV without a fee is now 5.99% (reduced by 0.35%).
- Two-year fixed rate at 60% LTV with a £999 fee is now 5.79% (reduced by 0.30%).
- Five-year fixed rate at 80% LTV with a £999 fee is now 5.29% (reduced by 0.20%).
- Two-year tracker rate at 85% LTV with a £999 fee is now 5.34% (reduced by 0.10%).
In addition to the switcher products, Nationwide is also extending the rate reductions to selected two, three, and five-year fixed rates on its additional borrowing range, with savings of up to 0.35%.
Henry Jordan, Director of Home at Nationwide Building Society, expressed the society's commitment to supporting existing members approaching the end of their current deals. He mentioned that the reduction in rates was made possible due to the recent decline in swap rates.
This move reaffirms Nationwide's dedication to its members and presents an excellent opportunity for them to explore more favourable mortgage options during their transition periods.
If you are in a transition periods and you are coming up for renewal, it is still essential to shop the whole of market to ensure the best deal possible for your circumstances. At My Financial Pro - we have that access. Contact us today and allow us to find the best deal out there for you!
