The lender has slashed rates by up to 0.55% across a range of three-year and five-year discount products.
Under the changes, Newbury will offer a three-year discount at 85% loan to value (LTV) at a current rate of 2.19% and a five-year discount at 75% LTV at a rate of 1.74%.
Rates have also been cut on discounted Help To Buy, Home Starter and self-build products.
And the society confirmed its SVR will remain at 4.20%.
Base rate rise prompts changes
Monetary policymakers raised interest rates in November for the first time in a decade – taking the base rate to 0.5%.
The moves sparked a rush by lenders to push up SVRs and variable mortgage deals.
HSBC yesterday confirmed its SVR would rise by 0.25%, following in the steps of rivals.
Phillippa Cardno, operations and sales director at Newbury Building Society, said: “The Bank of England base rate increase meant between four and five million UK households on standard variable rate mortgage faced a monthly repayment increase.
“Although the bank base rate has not changed since September last year when it was reduced from 0.5% to 0.25%, the price of mortgage business products across the industry has continued to edge downwards in the last 15 months for borrowers.
“As a result, we are taking the opportunity by not increasing the SVR to increase demand for our products to both new and existing members.”