The nationally-wide two-year, three-year, five-year and ten-year fixed interest rates and two-year annual tracking products with a tax rate of up to 0.30%.
The lender’s minimum mortgage rate is now 3.84%, which can be used for existing and new customers who want to move to a new home. This rate is available on two-year and five-year fixed-rate products.
For the first time since September 2024, the country will offer interest rates below 4% for first-time buyers.
The lowest first-time buyer rate is 3.94%, which can be offered at 60% Loan-to-value (LTV) price in a two-year fixed-rate product for £1,499.
First-time home buyers can also earn 3.99% of revenue on the same 60% LTV, two-year fixed-rate product, but at a lower expense.
First-time buyers of smaller deposits will also lower interest rates, including cutting up to 0.30%
Nationwide’s five- and 10-year fixed-rate products also bring its help to hand loan enhancements, which allows eligible first-time home buyers to borrow up to six times their income, up to 95% of their LTV.
National Senior Manager – Mortgage Carlo Pileggi said: “We are excited to cut the third cut in three weeks as we strive to be one of the most competitive lenders on the market.”
“This latest round of changes includes our offer of prices below less than the price for first-time home buyers and lowering the interest rates on hand mortgages we help, which enables eligible first-time home buyers to borrow up to six times the LTV revenue.”
Meanwhile, MPower’s mortgages cut its two-year, three-year and five-year fixed mortgage rates by 0.17%.
The cuts are the third batch since early April, which includes a two-year fix, and currently pays £999 for 40% of people with deposits and 4.19% at 3.94% without any fees.
Now the lender’s three-year payment rate starts at 3.89%, with 40% of deposits paying £999, while the fee is not paid is 4.09%.
Additionally, the five-year fixed interest rate now starts at just 4.04%, with 40% of the deposit paying £999 without paying 4.17%.
Stuart Cheetham, CEO of Mpowered Mortgages, said: “We are pleased to lower interest rates again. Swap rates continue to decline, which allows us to provide customers with lower interest rates.
“We’ve seen mortgage rates drop over the past few weeks or so, making it an attractive time to climb the ladder.”
“The new lower interest rates will also bring welcome relief to people. As base rates drop further this year, we may see a little further downward rate, although most of them are already integrated into current rates, so getting a mortgage at today’s rates could be a cautious move because you can lock it up.”
