Finally mortgage rates are available starting with ‘three’ - as major lender brings out sub-4% offer

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. It is offering rates as low as 3.99 per cent, to existing customers looking to move to a new deal and to new customers looking to remortgage. The new rates include a “switcher” mortgage for existing Nationwide customers coming to the end of their current mortgage deal at 3.99 per cent, for a five-year term. “Lenders will no doubt be watching swap rates closely to adjust their future rate expectations in the coming weeks, so it will be interesting to see how long the lowest rates can be sustained for, or indeed, if other lenders make significant cuts.” Nicholas Mendes​​​​, mortgage technical manager at broker John Charcol, said: “Fixed-rate mortgages are continuing to edge lower, mainly due to a notable drop in swap rates, particularly on two- and five-year terms. “However, the gap between two-year and five-year swaps remains tight, making it difficult for lenders to confidently introduce sub-4 per cent deals, especially on shorter fixes.” He added: “While further reductions are possible, much depends on whether swap rates remain steady.”