Nationwide offering cheaper rates for property purchases rather than remortgages with latest price improvements
Nationwide for Intermediaries is the latest mortgage lender to lower rates.
Nationwide announced that it will reduce selected fixed rates by up to 0.31% following the announcement the Bank of England base rate will stay at 5.25%.
The lender said it will lower rates across New Business, Existing Customer Moving Home, Switcher and Additional Borrowing product ranges.
Aaron Strutt, product director at Trinity Financial, says: “It is great to see more lenders lowering rates although Nationwide's new property purchase rates are actually cheaper than the remortgage rates it offers in many cases.
“More lenders are offering cheaper property purchase rates as they try to breathe some life back into the market.”
TSB for Intermediares has also lowered the price of some of its rates by up to 0.25%. The changes will apply to new and existing borrowers.
How much lower are mortgage rates given the recent price improvements?
Trinity Financial has access to lenders offering five, seven and ten-year fixes below 5%. Also, tracker rates priced from 0.14% over the Bank of England base rate. Two-year fixes are priced around 5.5%.
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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