Nationwide cuts rates by up to 0.25%: "Lenders are seriously locking horns right now"

Nationwide waited until after the Easter break to take the axe to their rates with new borrowers and home movers alike benefiting from the lowest fixed rates. Given current market movements, the next seven days may see even more cuts as the expectation for future rate cuts increases. If you have an application or an offer and the deal has not completed yet, speak to your broker.

Hot on the heels of Easter, lenders are serving up a huge helping of good news in the form of lower mortgage rates. With Nationwide the latest lender to cut, it’s a welcome boost for buyers looking to make a move this spring, or homeowners hoping to unlock savings. A timely step toward a fresh start as we head ito the summer months.

These new deals from Nationwide look to be market-leading, starting from 3.89% on a 2-year fixed for those looking to move home and with a good-sized deposit. With lenders starting to put pressure on each other to keep some momentum in the home purchase market, I would expect to see more lenders do the same, pricing differently for homemovers, first-time buyers and remortgagors.

It’s heating up and lenders are at each other’s throats as another major player cuts their rates to compete for business. The rates are starting to become very attractive for borrowers as market conditions continue to improve. Game on.

It looks like the rates war is now in full swing, and Nationwide has become the latest lender to join the fight. This is more good news for borrowers and should result in those lenders that have so far resisted joining the party, too. The likelihood is that we'll now see movement from lenders across a range of products that should benefit first-time buyers and those looking to remortgage. With the Bank of England meeting in a few weeks, the potential for further cuts is increasing.