Nationwide, Virgin and GB Bank reduce mortgage rates

Nationwide is making further rate cuts across its fixed rate mortgage range and lowering the price on selected tracker mortgage products, effective tomorrow.

The new fixed rates include remortgage reductions of up to 0.19% across two-, three-, five- and 10-year fixed rate products up to 95% LTV.

Nationwide’s latest cuts are Trinity Financial product and communications director Aaron Strutt, who says: “Nationwide’s rates are coming down again and its best buy three- and five-year fixes are getting even cheaper. The building society is bringing out a 4.34% three-year fix and a 4.26% five-year fix, but the 4.19% two-year fix is staying the same.”

“It is good to start another week with the continuation of mortgage price reductions as cheaper rates clearly bring more positivity to home-buyers and the property market in general.

“The price gap between two, three and five-year fixes is still getting tighter as we edge closer to sub-4% fixes again. Three-year fixes are not as popular and two and five-year deals but they are a good option for those looking for slightly more payment security.”

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