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"Nationwide nails it" as lender cuts rates by up to 0.25% on selected fixed deals

Journalist: Justin Moy, Mortgage & Property Reporter

ended 27. February 2025

Nationwide is the latest lender to announce cuts to some of their fixed mortgage rates, as competition intensifies and the cost of funds falls. The changes will see up to 0.25% shaved off selected fixed rates. Newspage asked brokers for their views, below.

8 responses from the Newspage community

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Pete Mugleston
Mortgage Advisor & Managing Director at Online Mortgage Advisor
Nationwide’s latest round of rate cuts is more great news for borrowers and reflects increasing competition among lenders as funding costs continue to ease. With swap rates stabilising, we could see further reductions. However, while rates may edge down in the short term, significant cuts are unlikely. Instead, we'll likely see more lenders making incremental cuts to rates as the weeks go on. Borrowers should remain proactive. Waiting too long could mean missing the best deals, as lenders adjust pricing based on demand. If inflation remains under control and market sentiment stays positive, we may see a gradual softening of rates but not a return to historic lows.
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Steve Humphrey
Adviser & Founder at The Mortgage Pod
Nationwide nails it. With swap rates taking a welcome drop this week, it’s great to see a quick response from Nationwide with the repricing of their fixed rate products. This is a lender known for consistently offering competitive products, including both retention and new business. I expect this to be the first of many lenders reducing in the current climate. It’s also great to see Nationwide are keen to play their part in the upcoming mortgage lender rate war, which we certainly hope will continue.
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Justin Moy
Managing Director at EHF Mortgages
More good news for borrowers, as competition on the High Street and lower Swap rates start to re-invigorate the mortgage market. With cuts of up to 0.25%, this is another significant price change and one that will be welcome by those looking to move home or borrow more funds.
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Elliott Culley
Director at Switch Mortgage Finance
The cost of lending has fallen recently for mortgage lenders, which has meant that some have started to improve their products available to borrowers. This latest move from Nationwide, although not offering huge reductions, is a step in the right direction.
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Ben Perks
Managing Director at Orchard Financial Advisers
Credit where it’s due, lenders are getting the money in for less and passing those savings on to borrowers. Another round of cuts from Nationwide, who seem particularly keen to lend at the moment.
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Jack Tutton
Director at SJ Mortgages
Nationwide are first out of the blocks to make significant reductions in their rates following the improvements in the financial markets that we have been seeing. This is a strong move by one of the biggest lenders in the country, which will be well received by mortgage holders. Other lenders will need to follow Nationwide's example to remain competitive.
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Dariusz Karpowicz
Director at Albion Financial Advice
This welcome move from one of Britain's largest lenders brings a ray of sunshine to the UK property market. A great and much awaited decision by one of the biggest residential lenders, reflecting the recent drop in SONIA swap rates. Let's hope other major banks follow suit, creating a domino effect of competitive offers that could benefit homebuyers and remortgagers across the country.
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Jamie Elvin
Director at Strive Mortgages
With lenders jostling for market share and the cost of funds falling, further reductions look likely, especially as the month-end approaches and banks push to meet lending targets. Competition is clearly ramping up, and borrowers could be in for even better deals in the weeks ahead. This isn’t just a one-off adjustment, it’s a sign that rates may have further to fall.