Nationwide Building Society recently announced that it is reducing its first-time buyer and remortgage rates by up to 75 basis points. This is great news for those looking to purchase their first home or remortgage their existing property.
The reduction in rates applies to both fixed and variable rate mortgages, with the largest reduction being for five-year fixed rate mortgages. These mortgages now have a rate of 1.99%, down from 2.74%. This could save borrowers thousands of pounds over the course of the mortgage.
Nationwide is also offering a range of incentives to help first-time buyers get on the property ladder. These include a cashback of up to £500 and free legal fees for remortgages.
The reduction in rates is part of Nationwide’s commitment to helping people achieve their home ownership dreams. The lender is also offering a range of other products and services to help first-time buyers, such as its Help to Buy ISA and its Family Springboard Mortgage.
Nationwide’s move to reduce rates is great news for those looking to purchase their first home or remortgage their existing property. It is important to remember, however, that the best deal for you will depend on your individual circumstances. It is always best to shop around and compare different lenders and products before making a decision.
Nationwide’s reduction in rates is a welcome move and could help many people achieve their home ownership dreams. It is important to remember, however, that rates can change quickly, so it is important to keep an eye on the market and make sure you are getting the best deal for your needs.