Nationwide unveils some of its lowest EVER mortgage deals for first time buyers
The building society made their announcement shortly after Santander made cuts of up to 0.3 per cent
BRITAIN’S biggest building society has unveiled some of its lowest ever mortgage deals for first time buyers — ramping up the war between lenders.
Nationwide Building Society is cutting rates on selected two and five-year fixed and two-year tracker mortgages by up to 0.1 per cent.
For those with a 10 per cent deposit, often first time buyers, its two-year fixed rates have been cut to 2.19 per cent with a £999 fee and 2.59 per cent with no fee.
They are some of the lowest Nationwide rates ever in this range.
Nationwide’s Henry Jordan said: “We are making further reductions, with a number of Nationwide mortgage rates reaching historic lows.”
It comes after Yorkshire Building Society last week launched a 0.89 per cent rate — the lowest on record.
Nationwide’s announcement came as Santander made rate cuts of up to 0.3 per cent.
Santander said this week: “The mortgage market continues to be very competitive.”