Nationwide has reduced the mortgage interest for the third time this month and now offers a deal with 3.99%.
The price reductions, which will be shown up to 0.25%, will probably get the ball rolling for more mortgage interest reductions in the coming weeks, predict mortgage brokers.
Nationwide said that the new prices will be available for borrowers who are looking for remortgages or who buy a house. Moreover, there are new prices for first buyers.
The striking 3.99% rate Most likely stand out for borrowers – but they must be aware that this is only available for people with 40% equity and that are willing to resolve their rate for five years.
For those who switch from an existing national mortgage there is a fee of £ 999 for this new deal and for those who are new to the construction company, the reimbursement is £ 1,499.
Carlo Pleggi, Senior Manager of Nationwide – Mortgages, said: “Our third series of interest rates in three weeks should come as great news for borrowers.
“We remain dedicated as always to support all market segments, including those who buy them first home Or move to their next, and with our Switcher and RemortGage rates from 3.99%, we strive to be a new deal for those looking for a new deal. “
It is just after TSB announced that it reduces the prices by a maximum of 0.25% and lower the rates after several large lenders last week.
Mortgage brokers think that this can indicate that more cuts can follow.
Jamie Elvin, director of Strive Mortgages, speaking through the newspaper agency, said: “With lenders who are pushed for market share and the costs of falling funds, further reductions are probably looking, especially because the dimensions of the month and banks to achieve loans.
“Competition is clearly rising and borrowers can close better deals in the coming weeks. This is not just a one -off adjustment, it is a sign that the rates can fall further. “