Nationwide has lowered rates across its switcher and remortgage ranges by up to 0.29 percentage points.
The new rates, across two, three and five-year fixed rate and two-year tracker products.
The latest cuts, effective 25 April, mean Nationwide’s lowest remortgage rate now stands at 3.94%, down from 4.09% and is available on both the two and five-year fixed rate products at 60% loan-to-value (LTV) with a £1,499 fee.
Other remortgage rate cuts include the five-year fix at 60% LTV with a £1,499 fee, which has been lowered by 0.05% to 3.94%.
The two-year fix at 85% LTV with a fee of £999 has been reduced by 0.24% to 4.60%.
Switcher rates have also been reduced for existing customers and start from 3.94%.
The two-year fix at 60% LTV with a £999 fee has been cut by 0.15% to 3.94% while the five-year equivalent has been lowered by 0.05% also to 3.94%.
Nationwide has also reduced the rate on its two-year fixed rate at 85% LTV with a fee of £999 from 4.79% to 4.55%.
The five-year fixed rate at 75% LTV with a fee of £999 has been lowered from 4.20% to 4.07%.
Nationwide made cuts earlier this week to its first-time buyer and home mover products to include sub-4% rates.
Nationwide senior manager of mortgages Carlo Pileggi says: “After cutting rates for first-time buyers and home movers earlier this week, we are now reducing rates for existing customers looking for a new deal and new customers wanting to remortgage.”
“The latest cuts ensure that we have competitive mortgage rates across the board and firmly position us as the go-to lender for every type of borrower.”
Commenting on today’s announcement, Trinity Financial product and communications director Aaron Strutt adds: “Nationwide is making some pretty big price reductions to its remortgage deals, which is good to see because the lenders have been concentrating on lowering their property purchase rates.”
“The vast majority of existing mortgage borrowers coming to the end of fixed rates will probably stick with their lenders and complete a product transfer, although with 3.94% remortgage rates available, they may well be tempted to switch lenders.”
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