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Nationwide reduces fixed deals for remortgages by up to 0.22%: "The UK mortgage market is really starting to fire in May"

Journalist: Justin Moy, Contributing Editor

ended 08. May 2025

Following the Bank of England rate decision, Nationwide has just announced cuts of 0.22% for remortgage and product transfer clients. With purchase rates updated just a few days ago, brokers say it's encouraging to see that those borrowers seeking a new deal will have cheaper options from the lender, too. Views from brokers below. 

 

5 responses from the Newspage community

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Editor
Justin Moy
Managing Director at EHF Mortgages
Those looking for a new mortgage deal on their remortgage, or looking to stay with Nationwide, will be delighted to see fixed rates fall a bit further, potentially reducing the cost for many borrowers. This is ideal for the 1m+ homeowners looking to refinance between now and the end of the year, as other lenders will look to match this move from Nationwide.
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Editor
Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
This is more great news hot on the heels of the Bank of England's rate cut today. Nationwide's cut will be music to the ears of many people looking to remortgage between now and the end of the year. We'll likely see more lenders follow suit as the weeks go by to try to stay competitive. But it all points to a more positive outlook for borrowers as the cuts keep on coming.
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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
This is yet more positive news for borrowers following the Bank of England rate decision earlier on Thursday. The rate war is really starting to rage now, with cuts coming on a daily basis. It really does feel like the market is at a turning point.
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Editor
Daniel Hobbs
CEO at New Leaf Distribution
The UK mortgage market is really starting to fire in May. Given the direction rates are headed in, and today's Bank of England rate cut, we could see activity levels pick up sharply in the weeks ahead. The market is gaining real momentum as we move into the summer.
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Sean Horton
Managing Director at Respect Mortgages
More good news for remortgage borrowers as Nationwide jumps on the rate-cutting bandwagon. With their fourth round of reductions in three weeks, they're clearly hungry for business. The 3.84% starting point for 60% LTV puts them firmly in the competitive mix, but even those with less equity benefit. At 75% LTV, you're looking at 4.09% with a £999 fee, while 90% LTV borrowers get 4.89% - still decent for higher LTV lending. I'm sure we will see a lot more rate reductions over the next week or so. Borrowers could be spoilt for choice and brokers need to be on hand to guide them.