Nottingham Building Society has jumped on the bandwagon and cut mortgage rates by up to 1.6%! This follows hot on the heels of high street giants NatWest, Barclays and HSBC, who’ve also announced cuts to their mortgage rates.

Nottingham Building Society is cutting rates across a range of their fixed-rate mortgages, making it cheaper for you to buy your dream home. These cuts apply to two, three, and five-year fixed deals.

Biggest Savings on Two-Year Deals

Here’s where you can save the most:

• Two-year fixed-rate mortgage at 75% Loan-to-Value (LTV): Rate drops from 5.09% to 4.93% (a 1.6% reduction). This deal comes with a £1,999 fee and a welcome cashback of £300.
• Two-year fixed-rate mortgage at 60% Loan-to-Value (LTV): Rate drops from 5.15% to 4.99% (a 1.6% reduction). This deal is available with either a £999 fee and £300 cashback.
• Two-year fixed-rate mortgage at 60% Loan-to-Value (LTV): Rate drops from 4.99% to 4.83% (a 1.6% reduction). This deal comes with a £1,999 fee and £300 cashback.

Three and Five Year Fixed Rate Mortgages

While most three and five-year fixes are being reduced by a still significant 1%, some are dropping by as much as 1.1% or even 1.3%!

What does this mean for you?

This mortgage price war is great news if you’re looking to buy a home. With rates falling, now could be the perfect time to lock in a great deal. Make sure you compare offers from different lenders to find the best deal for you.