Nationwide Cuts Mortgage Rates Amid Increases from Rival Lenders
Posted on Thursday, 5 June, 2025
Nationwide Building Society has announced reductions of up to 0.12% on selected two-, three-, and five-year fixed-rate mortgage products, effective immediately. These cuts bring Nationwide’s lowest lending rate down to 3.9%. For existing customers looking to switch, rates remain unchanged, starting from 3.84%.(propertyindustryeye.com, theguardian.com)
The new rates include a two-year fixed rate at 3.9% with a £1,499 fee for buyers with at least a 40% deposit. Those with a 25% deposit can access a two-year fixed rate at 4.04% with a £999 fee, while a five-year fixed rate at 4.29% with a £999 fee is available for buyers with a 15% deposit. Remortgage rates start from 3.92% for a two-year fixed term.(forbes.com, propertyindustryeye.com)
These reductions contrast with recent moves by other major lenders such as Halifax, Accord, and Santander, who have increased their rates. The broader market trend is influenced by financial markets adjusting expectations for Bank of England interest rate cuts, following an unexpected rise in inflation to 3.5% in April.(inews.co.uk)
Carlo Pileggi, Nationwide’s Senior Manager for Mortgages, stated that the reductions aim to support various segments of the market, including first-time buyers, home movers, and those seeking new deals. He emphasized Nationwide’s commitment to offering competitive rates starting from 3.9%.(theguardian.com)
