Major UK bank slashes mortgage rates as low as 3.64 per cent
UK bank to launch brand new competitive mortgages
- Nationwide Building Society is implementing mortgage rate cuts of up to 0.25 percentage points across its fixed-rate products, effective from Wednesday.
- The reductions apply to two, three, five, and 10-year fixed-rate deals, including options for home movers and remortgages.
- A two-year fixed-rate home mover mortgage for borrowers with a 40 per cent deposit will decrease to 3.64 per cent, while a similar remortgage option will be 3.79 per cent, both incurring a £1,499 fee.
- Existing Nationwide customers can secure a fee-free two-year fixed rate of 4.79 per cent with a 10 per cent deposit, representing the maximum 0.25 percentage point reduction.
- These rate adjustments are being made ahead of the Bank of England's base rate decision and follow a recent dip in average mortgage rates below 5 per cent in November.