Nationwide lowering mortgage rates by up to 0.55%

by Aaron Strutt

Aug 08 2023

Nationwide Building Society will lower rates on its fixed residential mortgages for new customers by up to 55 basis points tomorrow (9 August). 

New customers moving home and taking a mortgage through Nationwide — will get reductions of up to 0.45% across selected two-, three- and five-year fixed products. The lending is also changing its first-time buyer mortgages with cuts of up to 0.55% across selected two-, three- and five-year fixed products. 

Nationwide Building Society director of home Henry Jordan, was quoted as saying: "These latest changes build on the reductions we made last week for existing customers.  

"With swap rates having fallen from their early July peak and stabilised somewhat, we are now able to reduce rates for new customers." 

Have other lenders been updating their mortgage rates?

More of the larger banks and building societies are lowering their rates which is good news especially given the scale of rate increases we have seen in recent months. 

HSBC has announced it will make mortgage rate improvements along with TSB, MPowered and Market Harborough Building Society.

Last week Santander lowered its mortgage rates just before the Bank of England's MPC increased the base rate to 5.25%.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

The information contained within was correct at the time of publication but is subject to change.

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