Nationwide Building Society has announced a major cut to its mortgage rates, with some of the lowest rates ever seen!

From today, Wednesday 14th August, Nationwide will be reducing rates by up to 0.20 percentage points across a range of its fixed-rate mortgages.

Here’s what you need to know:

Moving Home?

• The biggest savings are for those moving home, with rates cut by up to 0.16% on two, three and five-year fixed rate deals.
• The lowest rate on offer is a tempting 3.83% for a five-year fixed rate mortgage at 60% loan-to-value (LTV) with a £1,499 fee. That means you could borrow £195,000 on a £250,000 property.
• Don’t want to pay such a big fee? There’s a five-year fix at the same rate with a lower fee of £999 – but the rate is slightly higher at 3.88%.

First Time Buyer?

• There are also some great deals for first-time buyers, with rates cut by up to 0.20%.
• The biggest saving is on the five-year fixed rate at 60% LTV with a £999 fee, which has been slashed to 4.19%.

Remortgaging?

• Looking to remortgage? You’re in luck too. Nationwide is cutting rates by up to 0.18% on a range of its remortgage products.
• The top deal is a five-year fixed rate at 75% LTV with no fee, which is now available at 4.50%. That means if your property is worth £250,000, you could borrow £187,500.

Switching Deals?

• Nationwide is also reducing rates on its switcher products, with cuts of up to 0.20% on two, three and five-year fixed rates.
• The lowest rate on offer is 4.06% for a two-year fixed rate at 60% LTV with a £999 fee.

Henry Jordan, Nationwide’s Director of Home, said: “We’re making further cuts across our fixed mortgage range in support of all segments of the market and to ensure that Nationwide continues to be front of mind for those looking to buy their first home, move to their next or who want to switch to a new deal.”