This headline rate applies to its five-year fix for new borrowers moving home at 60 per cent loan to value (LTV) with a £999 fee. This has been reduced by 0.1 per cent.
The two-year fix also at 60 per cent LTV with a £999 fee has been reduced by 0.25 per cent to 4.99 per cent, while the three-year fix has gone down by 0.05 per cent to 4.94 per cent.
Nationwide said this made it the first major lender to offer a two-year fix below five per cent.
At 85 per cent LTV, a five-year fix for new borrowers moving home with a £999 fee has been cut by 0.16 per cent to 4.94 per cent.
Rates for first-time buyers have been cut by up to 0.31 per cent up to 95 per cent LTV, including a deal at 90 per cent LTV which is fixed for two years and priced at 5.72 per cent after a 0.18 per cent reduction. This has a £999 fee.
The mutual’s remortgage rates have been reduced by up to 0.38 per cent, while switcher rates have been lowered by up to 0.25 per cent.
Pricing on additional borrowing products has also been cut by up to 0.25 per cent.
Nationwide: Reduced rates eight times in three months
Henry Jordan, director of home at Nationwide Building Society, said: “We’re making further rate cuts across our fixed rate mortgage range to ensure we continue to cement our position as one of the most competitive lenders in the market.
“Over the last three months, we have reduced rates eight times and, over that period, that has meant our rates have fallen by up to 1.39 percentage points as we look to maintain our support for potential and existing homeowners, as well as brokers, by offering attractively priced products.”
