Nationwide Fixed Rate review
Best Fixed Rate
Competitive 2 and 5 year fixed rates from one of the UK's largest building societies. First-time buyer friendly with 95% LTV options.
Overview
Nationwide is the UK's largest building society and one of the most trusted names in mortgages. As a mutual (owned by its members, not shareholders), it consistently offers competitive rates — particularly for first-time buyers, with 95% LTV products and fee-free options.
Who Is Nationwide Best For?
- First-time buyers — specialist products and 95% LTV options
- Existing Nationwide members — loyalty rates and easier applications
- Those wanting fee-free options — some products have no product fee
- People who value branch access — 600+ branches across the UK
Typical Product Range
| Product |
Fixed Period |
Typical LTV |
Product Fee |
| 2-year fixed |
2 years |
60-95% |
£0 or £999 |
| 5-year fixed |
5 years |
60-95% |
£0 or £999 |
| 10-year fixed |
10 years |
60-85% |
£999 |
| Tracker |
Variable |
60-90% |
£0 |
Nationwide offers most products in two versions: a lower rate with a £999 fee, or a slightly higher rate with £0 fee. On a smaller mortgage (under £150,000), the fee-free option is usually better. On larger mortgages, the lower rate saves more than the fee costs.
First-Time Buyer Focus
Nationwide has historically been one of the most FTB-friendly lenders:
- 95% LTV available (only 5% deposit needed)
- Helping Hand mortgage for FTBs and home movers
- Income multiple up to 5.5x for some products
- Accepts gifted deposits from family
- Mortgage in Principle available online in minutes
Standard lenders offer 4-4.5x your salary. Nationwide's Helping Hand mortgage can go up to 5.5x for first-time buyers, meaning a £40,000 salary could borrow up to £220,000 — compared to £180,000 elsewhere. Strict criteria apply.
Overpayment Flexibility
Nationwide allows 10% overpayment per year without early repayment charges on most products. This means on a £200,000 mortgage, you can overpay up to £20,000/year. Even small monthly overpayments dramatically reduce total interest paid.
What Nationwide Lacks
- Not always the absolute cheapest rate — brokers may find marginally better deals
- Rates change frequently — today's deal may not be available next week
- Some products branch-only — not everything available online
- Early repayment charges on fixed-rate products (standard for the industry)
The Bottom Line
Nationwide is one of the safest and most reliable mortgage choices in the UK. Competitive rates, strong first-time buyer support, fee-free options, and the trust of a building society that does not answer to shareholders. It may not always win on headline rate, but the overall package is consistently excellent.
Pros
- Competitive fixed rates
- First-time buyer specialist
- 95% LTV available
- Building society values
- Fee-free options available
Cons
- Rates change frequently
- Branch application may be needed
- Early repayment charges apply
- Not always cheapest on market