Nationwide has today announced a series of rate reductions on many of its mortgages, which will be available from Thursday 23 August.
The news follows prime rate reductions from several other major lenders following credit market jitters after the collapse of several US sub-prime lenders.
Nationwide has announced ten rate reductions across its range of home mover and remortgage products including the 25-year fixed rate deals.
The 25-year home mover deal will be reduced to 6.34%, while the 25-year remortgage product is to charge at a rate of 6.44%.
The lender also reduced its ten-year and five-year fixed rate remortgage deals, with both now charging 6.13%.
Several shorter two-year deals also saw rates cut, with the two-year remortgage products cut to 5.98% with a £999 fee, 6.13% with a £499 fee and 6.53% with no fee. The two-year home mover deal with a £999 fee was cut to 5.78%.
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