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NerdWallet has partnered with L&C, the UK’s leading fee free mortgage broker. They’ll search 1000s of deals to find you the right mortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
Nationwide Mortgage Rates & Review
Nationwide offers fixed and tracker mortgage rates to those remortgaging, moving home or buying for the first time. Here’s our Nationwide mortgage rate comparison and review.
Nationwide mortgages: at a glance
Nationwide offers a wide range of mortgages which can be applied for online and over the phone. Mortgage terms of up to 40 years are allowed.
Compare Nationwide mortgage rates
Nationwide typically offers fixed-rate mortgages and tracker mortgages to first-time buyers, home movers and those looking to remortgage.
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Nationwide Fixed-Rate Mortgages
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Nationwide Tracker Mortgages
Important Information:
The data in this mortgage product comparison service is provided by L&C Mortgages. Information is updated up to once daily from L&C’s whole of market mortgage database, however some products may only be available directly with a lender. By selecting to Check If You Qualify you will be introduced to L&C Mortgages and their qualified advisors. NerdWallet brings you this mortgage product comparison as a guide. Information does not constitute advice or recommendation. Rates should be considered with all fees and charges. Mortgage suitability is specific to your own personal and financial circumstances.
Which Nationwide mortgage is right for you?
Choosing the right type of mortgage rate for you is crucial, whether it’s from Nationwide or a different lender.
Nationwide fixed-rate mortgages
With a fixed-rate mortgage the mortgage rate you pay stays the same for the period of time you’ve fixed. When this initial period ends, you may want to remortgage. If not, you will move onto one of Nationwide’s standard variable rates (SVRs), which are likely to be higher than the rate you’ve just left and have the potential to rise or fall.
Nationwide tracker mortgages
The mortgage rate you pay, and therefore your monthly repayments, may also increase and decrease with a Nationwide tracker mortgage, depending on changes in the Bank of England base rate. Before choosing any variable-rate mortgage, you must work out whether your monthly repayments would still be affordable if interest rates were to rise. Tracker mortgages from Nationwide may also have a minimum rate which they won’t drop below, no matter how low the base rate falls.
» MORE: Best mortgage rates from other lenders
What types of mortgages does Nationwide offer?
Nationwide first-time buyer mortgages
Nationwide first-time buyer mortgages are typically offered up to 95% loan-to-value (LTV). This means it may be possible to get a mortgage with only a 5% deposit. Fixed-rate and tracker options are usually both available, as are mortgages with no product fee. First-time buyers may also qualify for cashback once they complete on their mortgage.
Nationwide remortgages
Nationwide tends to offer fixed rate and tracker remortgage deals across a range of loan-to-values. Remortgage options may be available with or without upfront fees. It’s also possible you may qualify for either free standard legal fees or cashback.
Nationwide buy-to-let mortgages
Nationwide offers buy-to-let mortgages through its specialist subsidiary The Mortgage Works. There is a range of buy-to-let product options available for both existing landlords and those who are buying a rental property for the first time.
Nationwide Mortgages
2 to 40 years
£25,000
Capital & Interest; and Interest Only
Yes
Yes
This mortgage provider is available via our partner, London & Country Mortgages.
Think carefully before taking out any mortgage. Your home may be repossessed if you do not keep up repayments.
The information in this review is correct as at the date the page was last updated. This is our review of a lender and not the products, interest rates, fees or deal terms they offer. Many lenders also offer preferential products exclusively via brokers and intermediaries. This review does not constitute advice or recommendation.
More mortgage lender reviews
Take a look at some of the other mortgage providers we review.
Nationwide mortgage features
Repayment options
Nationwide offers mortgages on both a capital repayment and interest-only basis. However, if you want an interest-only mortgage, it’s likely you’ll need to apply through a mortgage broker or intermediary, rather than by applying directly to Nationwide yourself.
With a repayment mortgage, the regular payments you make pay off your interest and some of your original mortgage amount, or capital, each month. If you make every repayment in full and on time, everything should be paid off by the time your full mortgage term ends.
By contrast, the repayments on an interest-only mortgage only cover the interest that is payable each month. This can help keep repayments low but means you must have a strategy in place for paying off the capital in full at the end of the mortgage term. Interest-only mortgages tend to be more difficult to obtain than capital repayment mortgages and often come with lower LTV limits.
» MORE: Interest-only vs. repayment mortgages
Loan-to-value ratios
Nationwide repayment mortgages are typically available to a maximum of 95% LTV. This means it may be possible to get a Nationwide mortgage with a 5% deposit. Nationwide interest-only mortgages usually have a lower maximum LTV.
» MORE: Why your LTV is important for a mortgage
Mortgage offers
A mortgage offer from Nationwide is usually valid for up to six months. Throughout this period, the mortgage rate you’ve been offered will not change, regardless of what is happening to mortgage rates generally.
Making overpayments
Most new Nationwide mortgages allow you to make overpayments. Overpaying on your mortgage may help you pay off your mortgage sooner and pay less in interest overall, but it’s important to check whether you have this feature on your mortgage first.
The most you can overpay on a new Nationwide fixed-rate mortgage while avoiding an early repayment charge (ERC) tends to be 10% of your original mortgage loan amount annually. There are usually no restrictions on how much you can overpay if you take out a new tracker mortgage, but always check.
» MORE: Mortgage overpayment calculator
Paying off your mortgage early
Nationwide mortgages can be paid off early, but it’s important to be aware of any early repayment charges and other fees that you may be charged. To get an indication of everything that would need to be paid to pay off your mortgage early contact Nationwide for a mortgage redemption statement.
Porting your mortgage
If you’re moving home but want to keep your existing Nationwide mortgage, it may be possible to port your mortgage to a new property, but it’s important to check with Nationwide whether you’re eligible first.
Mortgage calculators
Nationwide’s website hosts a range of mortgage calculators to give you an idea how much you may be able to borrow and what your mortgage rates and repayments could be. Others relate to overpayments, early repayment charges, interest rate changes and home valuations.
» MORE: Best mortgage lenders
Nationwide Mortgage FAQs
The latest Nationwide mortgage interest rates can be seen in the ‘Compare Nationwide mortgage rates’ table at the top of this page.
Lenders regularly review and change the mortgage rates that they offer. That’s why it’s important to research and compare the latest mortgage rates available before making a final decision.
Sometimes rates on five-year fixed-rate mortgages are higher, other times two-year rates will be higher. However, it’s important to think about your personal situation and future plans too.
Fixing for five years will give you a longer period of repayment certainty if you think mortgage rates are likely to rise. There’ll also be more time before you need to think about remortgaging.
Fixing for two years may be an option if longer term reassurance over your monthly repayments is less important, or you think mortgage rates will decrease. With a two-year fix you could remortgage sooner without an early repayment charge, and potentially move to a lower mortgage rate, if available. A shorter fix may also allow you to avoid early repayment charges if you’re thinking of moving soon.
This is our review of a lender and not the products, interest rates, fees or deal terms they offer. Many lenders also offer preferential products exclusively via brokers and intermediaries. This review does not constitute advice or recommendation.
Review methodology
Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible, but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability for your financial circumstances.
You can view our full review methodology here.
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