Selected rate reductions

From Thursday 18 June we're reducing selected rates at 60% LTV by up to 0.10% for remortgage, existing borrowers moving home and switcher products.

Applications for existing borrowers moving home above 85% LTV will only be available if your client is applying for a loan where the LTV is less than or equal to their current position*.

Full details of the changes below.

Remortgage products

  • 2 year fixed rate, 0 - 60% LTV with £1499 fee - reduced by 0.05% from 1.14% to 1.09%
  • 2 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.10% from 1.29% to 1.19%
  • 2 year fixed rate, 0 - 60% LTV with £0 fee - reduced by 0.10% from 1.69% to 1.59%
  • 3 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.04% from 1.44% to 1.40%
  • 3 year fixed rate, 0 - 60% LTV with £0 fee - reduced by 0.05% from 1.69% to 1.64%
  • 5 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.04% from 1.44% to 1.40%
  • 5 year fixed rate, 0 - 60% LTV with £0 fee - reduced by 0.05% from 1.69% to 1.64%
  • 2 year tracker rate, 0 - 60% LTV with £999 fee - reduced by 0.10% from 1.39% to 1.29%
  • 2 year tracker rate, 0 - 60% LTV with £0 fee - reduced by 0.10% from 1.69% to 1.59%

Existing borrowers moving home

  • 2 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.10% from 1.29% to 1.19%
  • 2 year fixed rate, 0 - 60% LTV with £0 fee - reduced by 0.10% from 1.69% to 1.59%
  • 3 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.04% from 1.44% to 1.40%
  • 3 year fixed rate, 0 - 60% LTV with £0 fee - reduced by 0.05% from 1.69% to 1.64%
  • 5 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.04% from 1.44% to 1.40%
  • 5 year fixed rate, 0 - 60% LTV with £0 fee - reduced by 0.05% from 1.69% to 1.64%
  • 2 year tracker rate, 0 - 60% LTV with £999 fee - reduced by 0.10% from 1.39% to 1.29%
  • 2 year tracker rate, 0 - 60% LTV with £0 fee - reduced by 0.10% from 1.69% to 1.59%

Rate Switch products

  • 2 year fixed rate, 0 - 60% LTV with £999 fee - reduced by 0.05% from 1.14% to 1.09%
  • 2 year tracker rate, 0 - 60% LTV with £999 fee - reduced by 0.05% from 1.29% to 1.24%

*Existing borrowers moving home criteria

The existing LTV should be based on the agreed sale price of your clients current property vs the existing mortgage balance. If your client meets this criteria they can…

  • borrow more or less than the current mortgage
  • have the choice to port or not port their existing mortgage product/s

This LTV criteria also applies to any existing borrowers moving home exception cases, including but not limited to, existing borrowers where the existing mortgage term goes past the eldest applicant’s 75th birthday.

How to reserve existing products

You can reserve existing products through NFI Online and NFI MTE until 5:00pm, Wednesday 17 June 2020. If a product fee is being paid upfront, please note that the product is not reserved until this fee has been paid.

For rate switch applications, these need to be fully submitted on NFI Online by 5:00pm, Wednesday 17 June 2020.

Paper applications

New Business paper applications must be posted to the address below with a postmark no later than Wednesday 17 June 2020.

Northampton Service Centre (IPA)
Kings Park Road
Moulton Park
Northampton
NN3 6NW

Rate switch paper applications must be emailed to intermediary.switching@nationwide.co.uk before 5:00pm on Wednesday 17 June 2020.

Please note new products may not show on sourcing systems immediately.

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