Nationwide increases rates to new business and switcher fixes

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Nationwide has announced rate increase to its fixed-term products across new business and its switcher range, effective 29 July. 

For new business, Nationwide is increasing the rate on its new member moving product with a two-year fix at 90% loan-to-value (LTV) with no product fee to 4.04% while the 95% LTV has gone up to 4.24%.

The five-year fix new member moving product at 90% LTV and no product fee has gone up to 4.09% while the 95% LTV has risen to 4.34%.

For its first-time buyer (FTB) product, the two-year fix at 95% LTV and no product fee has increased to 4.39% while the five-year will be 4.59%. 

The two-year fix new member moving/FTB shared equity mortgage at 80% LTV and a £999 product fee will have a new rate of 3.79% while the same five-year product will sit at 3.79%.

The two-year fixed remortgage product at 90% LTV with no product fee has increased to 4.19% while the five-year has risen to 4.24% and the 10-year to 4.54%. 

For existing business, Nationwide has increased the rates on its two-year fixed existing members moving home product to 4.24% at 95% LTV and no product fee while the same five-year product will be 4.34%.

The two-year fixed existing member moving home, shared equity product at 80% LTV with no product fee has gone up to 4.14% and the same five-year fixed has risen to 4.04%. 

The green additional borrowing/green switcher additional borrowing two-year fixed product with no fee at 90% LTV will be 3.29%. 

The two-year fixed switcher at 95% LTV with a £999 product fee will rise to 3.69% and the five-year fixed switcher at 95% LTV will go up to 3.99%. 

The lender says existing products must be reserved by 8pm on 28 July.

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