Britain's largest building society, Nationwide, is lowering mortgage rates to as little as 3.89 per cent in a move that could have a significant impact on borrowers.
The reduced rates, effective from Wednesday, apply to select two, three and five-year fixed-rate mortgages for both first-time buyers and existing homeowners. These cuts of up to 0.25 percentage points could make home ownership more accessible and potentially allow borrowers to secure larger loans.
