Nationwide is the latest big lender to push up mortgage rates leaving its new customers with one fixed rate below 5%
Tags: Remortgages, Residential mortgages
Quick Summary
Nationwide Building Society is increasing a wide range of fixed and tracker mortgage rates by up to 0.21% from 30 September 2026. The changes affect First Time Buyer, House Purchase, Remortgage, Existing Customer, Switcher and Additional Borrowing products.
After the repricing, Nationwide will have just one fixed mortgage available to new customers below 5% with a £1,499 fee for borrowers with a 40% deposit. The minimum loan size is £300,000 and the maximum is £5 million.
The increase comes during another wave of mortgage rate rises, with Virgin Money and TSB also pushing up prices. Nationwide had waited nearly two weeks since its previous increase, while some rival lenders repriced several times.
Trinity Financial says borrowers may want to secure competitive deals early, while tracker mortgages could also appeal to those seeking lower initial rates.
Nationwide hikes its mortgage rates leaving just one fix below 5%
Nationwide Building Society is the latest major mortgage lender to increase its rates, with a wide range of fixed and tracker mortgages rising by up to 0.21% from Wednesday 30 September 2026.
The changes affect Nationwide’s House Purchase, First Time Buyer, Existing Customers Moving Home and Remortgage ranges, as well as Switcher and Additional Borrowing deals.
The increase comes as mortgage borrowers face another wave of rate rises, with Nationwide, Virgin Money and TSB among the lenders increasing the cost of their mortgages.
Nationwide will have just one fixed rate below 5%
One of the most noticeable consequences of Nationwide’s latest repricing is that it will leave the building society with just one fixed mortgage available to new customers below 5%.
The deal is a rate just below 5% fixed for two-years, available to borrowers with a 40% deposit or equity, with a £1,499 product fee. The minimum loan size is £300k and the maximum is £ 5 million. This highlights how quickly the mortgage market has changed. There are now far fewer sub-5% fixed rate mortgages available than there were only a few weeks ago.
Tracker mortgages may therefore look increasingly interesting to some borrowers, particularly where they are priced below comparable fixed rates. However, trackers usually move in line with the Bank of England base rate, so borrowers need to be comfortable with the possibility that their monthly payments could increase.
Nationwide waited nearly two weeks before raising rates again
Nationwide has actually been relatively slow to make its latest move.
The building society waited nearly two weeks between its previous mortgage rate increase and this latest repricing. During that period, some other major mortgage lenders have increased their fixed rates more than once.
Mortgage pricing has become particularly volatile as lenders respond to changes in wholesale funding costs and market interest rate expectations.
For borrowers, this means a mortgage rate that looks competitive today may not necessarily remain available for long.
Can you reserve a Nationwide mortgage rate?
One useful feature of the Nationwide for Intermediaries mortgage process is that eligible borrowers can potentially reserve a mortgage product without immediately submitting a full mortgage application.
A broker can submit a Decision in Principle (DIP) and then use Nationwide's product reservation facility to secure an available mortgage deal, subject to the lender's criteria and reservation rules.
This can be particularly useful in a fast-moving mortgage market where rates are being withdrawn or increased at relatively short notice.
Could more mortgage lenders increase their rates?
Further mortgage rate increases from banks and building societies would not be surprising if funding costs remain elevated.
At the moment, meaningful mortgage rate reductions appear less likely than they did earlier in the year, and borrowers coming towards the end of an existing fixed deal may want to start reviewing their options earlier rather than waiting until the last minute.
Even where a new mortgage deal is secured several months before it is needed, it may be possible to review the market again before completion if rates subsequently improve.
Speak to Trinity Financial about the latest mortgage rates
With lenders changing their mortgage pricing frequently, comparing the market can be particularly important.
Trinity Financial's mortgage brokers have access to deals from major banks, building societies and specialist lenders and can compare fixed and tracker mortgages based on your circumstances.
We can also explain whether it may make sense to reserve a mortgage rate now and review the market again before your purchase or remortgage completes.
Call Trinity Financial on 020 7016 0790 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar
The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.
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