Nationwide Offers Sub-4% Mortgage Rates as Market Competition Intensifies

The UK's largest building society reduces rates amid expectations of a potential Bank of England rate cut.

Nationwide's new five-year fixed mortgage rate for new customers with a 40% deposit is set at 3.99%.
Other lenders have also been lowering rates, anticipating a central bank rate cut due to falling inflation.
This marks the first time Nationwide has offered sub-4% rates since February.
The average five-year fixed homeowner mortgage rate has decreased to 5.40%, down from 5.47%.
Economists are divided on whether the Bank of England will cut rates in August or September.