Home / News / More mortgage rate cuts from Nationwide

More mortgage rate cuts from Nationwide

16 July 2008

Nationwide to reduce rates from 18 July

The Nationwide has announced that it will be cutting the interest rates for new borrowers for the second time since the beginning of the month.

It said it would be reducing the interest rates on some of its fixed-rate and tracker mortgage products by as much as 0.46% as of 18 July.

However, new borrowers without at least a 10% deposit will only get a smaller reduction in interest rates.

On 9 July, the building society cut the interest rates on some of its home loans by more than 0.25%.

On this occasion, the Nationwide is reducing the interest rate on a two-year fixed-rate offer, for people paying a £599 fee, from 6.48% to 6.18% on a mortgage worth 75% of the property’s value. Those who only have a 10% deposit will see the rate drop from 6.88% to 6.58%.