Nationwide Building Society has implemented a substantial nationwide change impacting both new and existing customers, with new rates taking effect from today, February 13, 2026. This move delivers a welcome financial boost to millions of customers across the United Kingdom, as the world's largest building society aggressively cuts fixed mortgage rates by as much as 0.16 percentage points.
Comprehensive Rate Reductions Across Mortgage Products
The initiative is designed to assist a broad spectrum of borrowers, from first-time buyers struggling to ascend the property ladder to current customers seeking more favourable terms. Following these sweeping reductions, Nationwide's most competitive mortgage rate now stands at an attractive 3.54%. The changes encompass an extensive range of two-year, three-year, and five-year fixed-rate options, ensuring that whether individuals are purchasing their inaugural property or remortgaging an existing one, substantial savings are likely available.
First-Time Buyers Receive Most Significant Benefits
First-time buyers stand to gain most substantially from these adjustments, with cuts reaching the maximum 0.16% reduction. Specific examples include a three-year fixed rate at 90% loan-to-value (LTV) with a £999 fee now priced at 4.40%, reflecting a 0.16% cut. Similarly, a two-year fixed rate at 90% LTV with a £999 fee is reduced by 0.14% to 4.10%, while a two-year fixed rate at 60% LTV with a £1,499 fee sees a 0.15% reduction to 3.67%.
Beyond the rate cuts, first-time buyers will also receive £500 cashback upon completion of their property purchase. Additionally, those acquiring an energy-efficient home could qualify for an extra £500 through Nationwide's "Green Reward" programme, further enhancing the financial incentives for new entrants to the housing market.
Advantages for Home Movers and Remortgagers
Existing and new customers who are relocating can enjoy rate reductions of up to 0.15%. For instance, a two-year fixed rate at 60% LTV with a £1,499 fee is now 3.54%, reduced by 0.15%. A five-year fixed rate at 85% LTV with a £1,499 fee is cut by 0.15% to 3.94%, and a two-year fixed rate at 85% LTV with a £999 fee is lowered by 0.09% to 3.78%.
For those considering remortgaging, reductions of up to 0.15% are available across two-year, three-year, and five-year fixed-rate products up to 90% LTV. A three-year fixed rate at 60% LTV with a £999 fee is now 3.80%, down 0.15%, while a five-year fixed rate at 80% LTV with a £999 fee is reduced by 0.10% to 4.04%.
Existing Customers Nearing Deal End Also Benefit
Existing Nationwide customers approaching the conclusion of their current mortgage deal have not been overlooked, with reductions of up to 0.11% applied to their options. A three-year fixed rate at 80% LTV with a £999 fee is now 4.05%, cut by 0.11%, and a five-year fixed rate at 80% LTV with a £999 fee is reduced by 0.06% to 3.99%.
Competitive Market Dynamics Drive Changes
These comprehensive adjustments arrive as lenders persistently compete for business within an ever-evolving financial market. Carlo Pileggi, Nationwide's Head of Mortgage Products, emphasised that the building society routinely reviews its rates to maintain competitiveness. He elaborated, "These latest rate cuts are excellent news for first-time buyers and home movers, who will witness the most substantial benefit. Our commitment is to provide attractive, accessible mortgage solutions that support customers throughout their homeownership journey."
The strategic rate reductions underscore Nationwide's proactive approach in a dynamic lending environment, aiming to capture market share while delivering tangible financial relief to borrowers across the United Kingdom.
