On the remortgage side, two, three and five-year fixed rates at 60 and 75 per cent LTV have fallen by between 0.1 and 0.2 per cent.
This includes its five-year fixed rate at 60 per cent LTV which has gone down by 0.14 per cent to 4.79 per cent and two-year fixed rate at the same LTV tier has decreased by 0.15 per cent to 5.24 per cent. Both come with a £999 fee.
For new customers moving home, rate reductions up to 0.25 per cent apply. Its five-year fixed rate at 60 per cent LTV has decreased by 0.15 per cent to 4.84 per cent and its two-year fixed rate at 75 per cent LTV has gone down by 0.1 per cent to 5.29 per cent. Both are subject to £999 fee.
First-time buyer deals have been cut by up to 0.3 per cent. Its five-year fixed rate at 60 per cent LTV with £999 fee has fallen by 0.2 per cent to 4.84 per cent, and its no-fee five-year fixed rate at 75 per cent LTV has decreased by 0.3 per cent to 4.99 per cent.
The lender added that it would be aligning its five-year fixed rates at 95 per cent LTV for first-time buyers and home movers with the rates on its two-year fixed rate at the same LTV. This means five-year fixed rates start from 5.89 per cent at this LTV tier.
Henry Jordan, director of mortgages at Nationwide Building Society, said: “These latest rate changes ensure our fixed rate products remain among the most competitive in the market for all types of borrowers, with rates starting at 4.79% for people joining the Society and 4.64% for existing Nationwide borrowers.”
Virgin Money adds exclusive deals and reduces rates
Virgin Money has added a range of exclusive purchase, remortgage, buy-to-let remortgage deals and cut core residential and buy-to-let rates.
This includes five-year fixed rate exclusive purchase deal with free valuation up to 85 per cent LTV and start from 4.64 per cent.
There are also exclusive remortgage deals with cashback, including a fee-free five-year fixed rate up to 75 per cent LTV beginning at 4.69 per cent.
Five-year fixed rates with £995 fee will be reduced by up to 0.34 per cent in this range.
Virgin Money has also brought out an exclusive buy-to-let remortgage deals, such as a two-year tracker with £3,995 fee with pricing starting at 3.3 per cent.
Five-year fixed rates with £3,995 fee will be reduced by up to 0.25 per cent in this range.
In its core range, residential five and 10-year fixed rated will fall by up to 0.31 per cent and buy-to-let five-year fixed rates will go down by up to 0.71 per cent.
The lender has also introduced buy-to-let tracker rates with £995 fee up to 75 per cent LTV, with pricing starting from 3.9 per cent.
