Good news for those looking to step onto the property ladder! Nationwide Building Society is cutting selected mortgage rates by up to 0.25%, starting today (Friday 13th September).

The building society is making it easier for first-time buyers to secure a mortgage, with the biggest reductions aimed at those with smaller deposits. Here’s a breakdown of the key changes:

First-Time Buyers:

• Two-year fixed rate at 75% LTV: 4.49% (down 0.05%) with a £999 fee
• Three-year fixed rate at 90% LTV: 5.04% (down 0.10%) with a £999 fee
• Three-year fixed rate at 95% LTV: 5.44% (down 0.25%) with a £999 fee
• Five-year fixed rate at 95% LTV: 5.04% (down 0.10%) with a £999 fee

Moving Home?

It’s not just first-timers who benefit. Existing Nationwide customers looking to move home will enjoy the same low rates as new customers. Here’s what’s on offer:

New & Existing Customers Moving Home (90% and 95% LTV):

• Three-year fixed rate at 90% LTV: 5.04% (down 0.06%) with a £999 fee
• Three-year fixed rate at 95% LTV: 5.37% (down 0.23%) with a £999 fee
• Five-year fixed rate at 95% LTV: 5.04% (down 0.05%) with a £999 fee

Existing Customers Moving Home (other LTVs):

• Three-year fixed rate at 80% LTV: 4.59% (down 0.11%) with a £999 fee

Cheaper Early Repayment Charges

On top of these rate cuts, Nationwide is also reducing certain early repayment charges by as much as 1%.

Henry Jordan, Director of Home at Nationwide Building Society, said: “These latest reductions will ensure that we have some of the most competitive rates on the market with a particular focus on supporting first-time buyers in what remains a challenging environment.”

So, if you’re dreaming of owning your own home or looking to move up the ladder, now could be the perfect time to chat with Nationwide.