Nationwide Building Society is dropping its mortgage rates with some of the lowest deals ever offered.
From tomorrow, August 22nd, you can get a fixed-rate mortgage with an interest rate as low as 3.78%. That’s a significant drop from their previous rates and could mean huge savings for you over the life of your loan.
Here’s what you need to know:
- New Customers Moving Home: You’ll find the biggest savings on five-year fixed-rate mortgages at 75% Loan-to-Value (LTV), now down to a very competitive 4.09%. This means you’ll need a 25% deposit. Two-year fixed-rate deals have also been reduced, with a 60% LTV option available at 4.15% with a £999 fee.
- Existing Customers Moving Home: You’re in luck too! Nationwide is offering existing customers the same great deals as new movers. This includes the five-year fix at 4.09% and the two-year fix at 4.15%.
- First-Time Buyers: Getting on the property ladder just got easier. Five-year fixes at 90% LTV (meaning you only need a 10% deposit) are down to 4.64% with a £999 fee. If you prefer a shorter commitment, two-year fixes at 60% LTV are available with no fee at 4.74%.
- Remortgaging: Want to switch to a cheaper deal? Five-year fixes at 60% LTV are down to an attractive 3.99% with a £999 fee. Three-year fixed-rate options are also cheaper, with a 75% LTV deal available at 4.65% with no fee.
- Switcher Rates: Existing Nationwide customers can save by switching to a new deal, with rates starting from 3.94%.
- Additional Borrowing: Rates have also been cut on additional borrowing products, with rates starting from 3.94%.
What do the experts think?
This move by Nationwide has caused a stir in the industry, with experts predicting even lower rates in the coming months.
Some believe that we could see five-year fixed rates as low as 3.5% by Christmas. This would be incredible news for buyers and could lead to a surge in property purchases.
Don’t delay, these deals won’t last forever!
With such competitive rates on offer, it’s a great time to consider buying a home or remortgaging your existing property. Don’t miss out – contact Nationwide or speak to a mortgage advisor today.