The mutual will make the changes from tomorrow, with first-time buyer products receiving the largest reductions.
Its two-year fixed rate at 85 per cent loan to value (LTV) for first-time buyers will decrease by 0.2 per cent to 2.49 per cent. This is subject to a £999 fee. Meanwhile its two-year fixed at 90 per cent LTV will fall 0.15 per cent to 3.24 per cent.
The mutual’s first-time buyer five-year fixed rate at 85 per cent LTV will also fall by 0.15 per cent to 3.24 per cent.
Both Nationwide’s two-year fixed and five-year fixed rate products will reduce by 0.15 per cent to 2.99 per cent and 2.69 per cent respectively. Both are subject to a £999 product fee.
On the remortgage side, its two-year fixed rate at 85 per cent LTV has been cut by 0.05 per cent to 1.05 per cent and has a £1,499 fee.
Rates for existing customers who are moving will see a rate reduction of 0.01 per cent on certain two and five-year products up to 90 per cent LTV.
Nationwide’s director of mortgages Henry Jordan said: “These latest rate reductions once again demonstrate our continued support for both first-time buyers and home movers, following on from the recent launch of our Helping Hand and 95 per cent mortgage range.
“With these competitive rates, we are making sure that, as the UK’s second largest lender, Nationwide remains one of the best options around for all types of borrowers.”