The mutual has also reduced certain switcher rates by up to 0.3 per cent.
For new customers moving home, a five-year fix at 90 per cent LTV with a £999 fee has fallen from 4.49 per cent to 4.44 per cent, while a three-year fix at the same tier has been reduced by 0.1 per cent to 4.69 per cent. This also has a £999 fee.
There is also a two-year fix for new borrowers moving home at 95 per cent LTV with a £999 fee, which has been reduced from 5.36 per cent to 5.29 per cent.
For first-time buyers, there is a five-year fix at 90 per cent LTV with a £999 fee which has been reduced to 4.44 per cent from 4.54 per cent. The equivalent two-year fixed product is now 4.89 per cent, down from 4.94 per cent.
A three-year fix at 95 per cent LTV for first-time buyers with a £999 fee has been cut by 0.2 per cent to 5.24 per cent.
Across its switcher offering, Nationwide has reduced a five-year fix at 60 per cent LTV by 0.05 per cent to 3.89 per cent. This has a £999 fee.
A two-year fixed switcher product at 75 per cent LTV with a £999 fee is now 4.24 per cent after a 0.1 per cent reduction, while a fee-free 10-year fix at 60 per cent LTV is now 4.29 per cent down from 4.59 per cent.
Rates for existing borrowers moving rates in need of a 90 or 95 per cent LTV mortgage will also see rate cuts of up to 0.2 per cent, and those taking out additional borrowers will benefit from rate reductions of up to 0.3 per cent.
The mutual has also lowered the rate of its green additional borrowing product by 0.05 per cent, now making it 3.89 per cent.
Henry Jordan, director of home at Nationwide Building Society, said: “We are making reductions on our higher LTV products to support those with a small deposit who are looking to buy their first home or move to a new property.
“We have also made further reductions to our switcher products where existing members benefit from our pricing pledge that those switching to a new deal will continue to benefit from a rate which is the same or better than the equivalent remortgage product.”
Virgin Money cuts mortgage rates
Virgin Money reduced rates on a range of mortgages and launched products to its offering.
Across its broker exclusive range, a purchase mortgage at 65 per cent LTV, fixed for five years with a £1,495 fee, has been reduced by 0.11 per cent to 3.79 per cent.
At the same tier, a five-year fixed remortgage deal with a £995 rate has been cut by 0.09 per cent to 3.82 per cent. A five-year fixed purchase product at 75 per cent LTV with a £1,495 fee has been cut by 0.15 per cent to 3.97 per cent.
At 85 per cent LTV, a two-year fixed purchase deal with a £1,495 fee now has a rate of 4.52 per cent, down from 4.57 per cent.
Products in Virgin Money’s core range have been cut by up 0.23 per cent.
This includes a five-year fix at 65 per cent LTV with a £995 fee, which has been lowered by 0.13 per cent to 3.82 per cent. At 75 per cent LTV, the equivalent product has a rate of 3.99 per cent, a 0.17 per cent cut.
At 95 per cent LTV, the fee-free five-year fix has been cut by 0.05 per cent to 4.97 per cent.
For buy-to-let borrowers, Virgin Money has reduced a two-year fixed 50 per cent LTV product by 0.09 per cent to 3.98 per cent, while the corresponding mortgage at 60 per cent LTV has received the same reduction to 4.08 per cent.
Both mortgages have a fee of £3,995.
The lender has also added fixed rates at 60 per cent LTV with a £1,995 fee and rates starting from 4.32 per cent, and deals at 75 per cent LTV also with a £1,995 fee where rates begin from 4.52 per cent.
Other select fixed rates have been cut by up to 0.02 per cent and the lender has also reduced product transfer rates by up to 0.19 per cent.
