Nationwide has reduced the mortgage interest rate for first buyers and home movers with the lowest price flow to 3.89%.
This specific rate is available for home treatments that have a two or Five years of fixed rate Product that at least 40% can be portrayed as a down payment. Both deals are supplied with a fee of £ 1,499.
But it is not only movers with a lot of equity that benefit from the price reductions of Nationwide. It also has reduced rates for a number of first buyer agreements, including a two -year fixed rate product for those who have to borrow up to 90% of the value of their house that has been reduced to 4.72%. This deal has a fee of £ 999.
A rate of 4.09% is also available for first buyers who want to borrow up to 60% loan-to-value (LTV).
Henry Jordan, director of Thuis at Nationwide, said: “We know that that rate is an important factor for borrowers who want to buy their first home or go to their next.
“These newest cuts should put firmly on the radar nationally for first buyers and home movers, because we remain one of the most competitively priced lenders on the market.”
Mortgage experts have welcomed the final round of tariff reductions, especially because it means that there are now more Sub-4% deals on the market.
Michelle Lawson, director at Lawson FinancialSaid via the newspaper agency: “Nationwide joined the interest rate reduction party that Sub-4% went in two, three and five years of fixed rates.
“It is quite an entrance to one of the largest mortgage providers in the UK. Lenders now lock the horns seriously.”
For anyone who is in the midst of eliminating his mortgage, RIZ Malik, director at R3 Wealth Speaking with the newspapers, thought that more cuts could follow and recommended to talk to your broker to ensure that you get the lowest price.
“Nationwide waited until after the Easter holidays to take the ax to their rates with new borrowers and home movers who benefit from the lowest fixed rates,” he said.
“Given the current market movements, the next seven days can see even more cuts as expected for future tariff reductions. If you have a request or an offer and the deal is not yet completed, talk to your broker.”