Nationwide and Virgin Money cut fixed rates – round-up
Nationwide has trimmed its fixed mortgage rates by up to 0.15% for first-time buyers, homemovers and remortgaging borrowers.
Following the cuts, the firm’s lowest fixed rate is 4.89% for new and existing customers.
First-time buyer rate cuts apply to two-, three- and five-year fixed rate products up to 95% loan to value (LTV), including a two-year fee-free fixed rate at 85% LTV, now at 5.48%, and a two-year fixed rate at 60% LTV with a £999 fee, now at 5.06%.
For existing and new customers moving home, reductions of up to 0.13% across two-, three- and five-year fixed rate products up to 95% LTV apply.
For remortgages, reductions of up to 0.12% across the same set of products up to 75% LTV have been made.
Rates on a small number of two-year tracker mortgages at 80% LTV and above will increase by up to 0.1%.
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Virgin lowers rates
Virgin Money, meanwhile, has cut its two-year fixed purchase rates by up 0.12%, with the five-year and shared ownership options reduced by 0.13% and 0.1% respectively.
Remortgaging borrowers will benefit from cuts of up to 0.17%.
