Daily Mail - Nationwide cuts mortgage rates despite Bank of England's decision to hold
Mortgage rates are heading lower after Britain's biggest building society announced it's cutting rates.
From tomorrow, Nationwide will lower rates across some of its deals by up to 0.18 percentage points. It comes within hours of the Bank of England's decision to keep the base rate on hold at 4 per cent.
'It is great to see Nationwide lowering rates again and offering two-year fixes from 3.8 per cent and five-year fixes from 3.94 per cent,' Aaron Strutt of mortgage broker Trinity Financial told the Daily Mail's money section.
'Most of the big lenders have been pushing up their fixes recently so this is a welcome reversal from the price hikes we have been seeing.
'Many of Nationwide’s competitors will probably look at this move and wonder how they are improving their pricing, but as we know, Nationwide likes to top the best buy tables to increase competition in the market. There are still decent rates to choose from at the moment.'
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