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Nationwide cuts rates by up to 0.35% but "we need to see more competitive high loan-to-value deals"

Journalist: Justin Moy, Contributing Editor

ended 13. February 2025

Nationwide has announced several rate cuts starting Friday 14th, particularly for remortgaging, of up to 0.35%. TMW, the specialist lender arm of Nationwide, has also announced rate cuts of up to 0.50%, helping landlords with purchasing and remortgage cases. Brokers said this is more evidence that lenders are keen to lend and take advantage of improving Swap rates. Newspage asked brokers for their views, below.

9 responses from the Newspage community

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Justin Moy
Managing Director at EHF Mortgages
The good news from popular mortgage lenders keeps on coming. Any rate cuts will make such a difference to those remortgaging or investing in property. These cuts are not as competitive as the headline deals from Barclays or Santander, but for remortgaging deals these are in the Top 5. More positivity to help the stagnating property market.
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Emma Jones
Managing Director at Whenthebanksaysno.co.uk
As the week goes on the rate cuts keep coming. In the current economic climate, with the country delivering negligible growth, households need whatever support they can get. With Nationwide joining other major lenders such as Barclays and Santander this week in reducing rates, the mood music in the mortgage market is improving. There are still numerous economic headwinds but this is another small win for the UK's borrowers.
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Riz Malik
Independent Financial Adviser at R3 Wealth
Last week on Sky News I said that this would be the week that we would see some decent rate cuts and this week has not disappointed. However, don’t expect such sizeable rate movements continously unless we have more favourable market conditions.
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Ben Perks
Managing Director at Orchard Financial Advisers
It doesn’t look like a war just yet, more like the fight scene in Anchorman at the moment. But as more lenders are arriving the competition is going to heat up and the rate war will truly commence. I expect over the next week we will start to see them all jostling for position. These cuts by Nationwide are a big help to homeowners but also landlords who can often be overlooked.
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Dariusz Karpowicz
Director at Albion Financial Advice
In a welcome move that's music to borrowers' ears, Nationwide is slashing their rates by up to 0.35%, whilst their buy-to-let arm TMW is offering even juicier cuts of up to 0.50%. It's quite refreshing to see one of Britain's biggest lenders joining the rate-cutting party, giving both homeowners and landlords something to smile about. These reductions are certainly making waves in the mortgage market, though they might not quite pip the headline-grabbing deals from Barclays and Santander. Nevertheless, it's another clear signal that lenders are keen to get their lending books flowing, taking advantage of improved swap rates and offering some much-needed relief to those looking to remortgage or expand their property portfolio.
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Rohit Kohli
Director at The Mortgage Stop
The momentum in mortgage rate reductions continues, with Nationwide cutting rates by up to 0.35% and TMW going even further with reductions of up to 0.50% for landlords. This is yet more evidence that lenders are keen to compete and capitalise on improved swap rates and the base rate reduction. For existing homeowners and landlords, this is great news. But once again, the biggest reductions are focused on remortgages and lower-risk borrowing. If we’re talking about a true rate war, we need to see more competitive high loan to value deals that help first-time buyers—because that’s where affordability pressures remain the highest.
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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
These are chunky cuts from TMW and offer another beacon of hope for landlords after the sizeable cuts from Leeds Building Society earlier in the day. Landlords need all the support they can get at present and finally that support is materialising.
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Elliott Culley
Director at Switch Mortgage Finance
Nationwide are the latest mortgage lender to reduce their current mortgage products for borrowers. Based on experience it would be prudent for borrowers needing to remortgage in the next 6 months to look at securing these rates now as rates can go up as quickly as they start coming down.
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Iain Swatton
Director at Exemplar Financial Services
Nationwide has stepped up, bringing rates in line with competitors without chasing headlines with a sub-4% deal. Meanwhile, TMW’s bold BTL rate cuts are a big win for landlords, where the most significant reductions continue to land. With lenders sharpening their pricing, competition is heating up—great news for borrowers.