Nationwide’s changes will apply to the mutual’s new business and existing products from today.
The two-year tracker product for home movers at 60 per cent loan to value (LTV) with a £1,499 fee has a rate of 0.94 per cent while the £999 fee option has a rate of 0.99 per cent. The fee-free alternative has a rate of 1.34 per cent.
At 95 per cent LTV, the two-year tracker with a £999 fee has a rate of 2.42 per cent and the fee-free product is priced at 2.54 per cent.
For first-time buyers, rates vary between 1.04 per cent at 60 per cent LTV with a £1,499 fee and 2.64 per cent for a fee-free tracker product at 95 per cent LTV.
For new home movers or first-time buyers, tracker rates begin at 1.14 per cent for a 60 per cent LTV deal with a £999 fee. For remortgaging borrowers, rates start from 1.04 per cent for a product with a £1,499 fee at 60 per cent LTV.
Santander’s rate changes apply to its two-year tracker products as of today.
At 60 per cent LTV, the rate is currently 1.64 per cent with a £999 fee while at 95 per cent LTV, the tracker product has a rate of 4.14 per cent with no fee.
All tracker products have no early repayment charges.