Several other lenders raised their rates accordingly last week.
Nationwide said its tracker mortgage interest rates would rise from 1 March to reflect the latest change in the BoE base rate.
However, it said that some tracker mortgages reserved between 1 December 2004 and 16 February 2009 would not be affected because their tracker floor was higher than the base rate.
Borrowers on the SMR will see their rate increase from 3.74 per cent to 3.99 per cent.
For BMR mortgages reserved through the mutual on or before 29 April 2009, through Derbyshire Building Society on or before 30 May 2009 or through Cheshire Building Society on or before 14 June 2009, the rate will increase from 2.25 per cent to 2.50 per cent.
In January, Nationwide increased its BMR and SMR by 0.15 per cent following an earlier BoE increase from 0.1 per cent to 0.25 per cent.
Last week, some industry figures said that the BoE rate hike would not discourage borrowers, but others cited an already tight consumer economy forecasting a tough year for many.
A Nationwide spokesperson said: “In recent weeks swap rates, which mortgage pricing is based on, have significantly increased as the market factors in further potential bank rate rises. As a result, rates have increased across the industry to reflect these changes. As a member-owned organisation we are not immune to this, we need to ensure our mortgage rates are sustainable and have therefore passed-on some of the increase in swap rates.”
