Nationwide Building Society pushed up the rate on its two-year variable tracker mortgage at 80% loan-to-value to 4.22% this week. It is still a Best Buy. Moneyfactscompare.co.uk made it one of its Picks of the Week, announced on Friday, October 2, 2026.
The rise was small. Caitlyn Eastell, a personal finance analyst at the site, said Nationwide was “among a handful of lenders to increase rates across most of its range this week.” Selected tracker deals went up by as much as 0.09%. The 80% option moved by slightly less, and it holds an Excellent Moneyfacts product rating.
The fee, the cashback and the catch
The deal carries a £999 fee. Eastell said that is reasonable, and that a free valuation incentive offsets it. Customers whose property qualifies could also pick up as much as £500 in “Green Rewards” cashback, the figure in the headlines.
Her bigger point concerned the market. Fixed rates keep climbing, so trackers may look better to borrowers who want a lower starting rate. The risk runs the other way: if the base rate rises, monthly repayments on a tracker rise with it.
What else made the list
Savers got two headline numbers. Union Bank of India (UK) lifted rates on a selection of fixed rate deposits, and its one-year option now leads the market at 5.12%. A £1,000 minimum deposit would earn around £51 over the year. Money is locked in for the full term, no top-ups are allowed, and loyal customers who reinvest at maturity get a 0.10% bonus.
Starling Bank boosted the Easy Saver rate, and 5% AER now applies to balances as large as £25,000. A 2.50% bonus, with conditions, is part of that. It opens with £1 and allows unlimited penalty-free withdrawals. The catch: you need a Starling Personal account, and the Easy Saver must be opened within 30 days of the new current account to get the full rate. Both savings accounts rate Excellent.
Barclays rounded out the week with a switching offer on its Bank Account. Customers could receive up to £300 for moving over through the Current Account Switch Service, provided they meet certain conditions, such as paying in at least £2,000. The account also offers Blue Rewards, which opens members-only savings accounts, and an arranged overdraft carries a £15 buffer with no interest.
Sources
- Money expert explains how Nationwide customers can get 'up to £500' (The Mirror, Steven Smith)
- Nationwide customers get 'up to £500' in 'excellent' deal (Cambridgeshire Live)
- Nationwide mortgage customers can get up to £500 cashback in new Green Rewards incentive (Liverpool Echo)
