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"Nationwide is seriously turning up the heat on the competition" as it cuts rates by up to 0.3%

ended 06. May 2025

From tomorrow, Wednesday 7 May, Nationwide is reducing selected fixed and tracker rates by up to 0.30%. This includes rates across its New Business, Existing Customer, Moving Home, Switcher and Additional Borrowing ranges. Newspage asked brokers for their views, below.

8 responses from the Newspage community

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Rob Peters
Principal at Simple Fast Mortgage
This is great news for borrowers. Nationwide is seriously turning up the heat on the competition by trimming their mortgage rates by up to 0.3% across a wide range of products. Lenders are clearly responding to shifting market conditions in the current buyers' market we are experiencing, and these rate cuts will help borrowers make the most of it.
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Ranald Mitchell
Director at bad credit mortgage specialists Charwin Mortgages
Nationwide haven't just trimmed rates, they’ve taken a sledgehammer to them, with cuts of up to 0.3%. It’s a clear sign that the mortgage market is swinging back in favour of borrowers as lenders fight for attention. But for those still stalling, now’s the time to act. These deals won’t hang around forever, and rates can just as easily rise as fall. If you’re unsure, consider a shorter fixed term, as it’s a smart way to hedge your bets while still cashing in on today’s momentum.
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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
Another week, another set of decent rate cuts from a leading mortgage lender. With the Bank of England widely expected to cut the base rate on Thursday, more cuts could follow in the days ahead. Things are brightening up for the UK's borrowers as we head into the summer.
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Daniel Hobbs
CEO at New Leaf Distribution
The UK mortgage market is coming to life in May. With the direction rates are headed in, we could see activity levels really start to pick up in the weeks ahead. A cut to the base rate this week has the potential to further build the momentum as we move into the summer.
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Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
The rate war continues apace, and Nationwide have now entered the ring with these cuts. This is more fantastic news for borrowers, especially as these cuts affect a wide range of the market. If the Bank of England cuts the base rate, as expected on Thursday, we'll likely see further cuts in the weeks ahead. This does beg the question of whether borrowers should wait to see if they decline further, but the trend is only going in one direction at present.
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David Stirling
Independent Financial Adviser at Mint Wealth
These sweeping cuts from our largest building society will appeal to all kinds of borrowers. Nationwide have signalled intent in their eagerness to attract new and existing customers, shrinking rates by up to 0.3%. With the Bank of England expected to cut rates this week, more competition should be anticipated among lenders in the days ahead.
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Elliott Culley
Director at Switch Mortgage Finance
Nationwide's rate reduction announcement is a clear sign of their confidence in the current mortgage market. The mortgage market may have finally turned a corner, but borrowers should take advantage of current rates as the economy remains fragile.
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Sean Horton
Managing Director at Respect Mortgages
Nationwide's rate cuts show the market's gathering good momentum. With swap rates dropping slightly and lenders hunting for business, mortgage costs are heading in the right direction.

Good news for borrowers - especially those facing remortgage shock after coming off ultra-low fixes from a few years back. This cut could save £750 a year for a 250K mortgage.

Other big lenders will likely follow suit, keeping the competitive pressure bubbling. Perfect timing as we head into the busy spring property season.

But of course everybody has one eye on the Bank of England's next interest rate meeting which is this Thursday 8th May.

Expect a cut of 0.25-0.50% to the base rate.