Nationwide’s rates have fallen by up to 0.25% and the cuts take effect from 13 September. 

The majority of cuts have been made to the mutual’s first-time buyer range across two-, three- and five-year fixes up to 95% loan to value (LTV). 

For first-time buyers, there is a two-year fix at 75% LTV with a £999 fee, which has been cut by 0.05% to 4.49%, and a three-year fix at 90% LTV, which has been cut from 5.14% to 5.04%. 

At 95% LTV, a three-year fix has been cut by 0.25% to 5.44% and a five-year fix has been lowered by 0.1% to 5.04%. 

All these deals have a £999 fee. 

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For both new and existing customers moving home, cuts of up to 0.23% have been made on two-, three- and five-year fixes up to 95% LTV. 

Nationwide is also reducing select early repayment charges (ERCs) by up to 1%. 

Henry Jordan, director of home at Nationwide Building Society, said: “These latest reductions will ensure that we have some of the most competitive rates on the market, with a particular focus on supporting first-time buyers in what remains a challenging environment.” 

 

Virgin Money 

Virgin Money announced rate cuts of up to 0.3% to its residential purchase, residential remortgage, buy-to-let (BTL) and product transfer options. 

Its two-year fixed purchase deal for residential borrowers with a £895 fee has been cut by 0.05% to 4.58%, while the fee-saver option has been reduced by 0.02% to 4.86%. 

Virgin Money has also lowered select retrofit boost product rates by up to 0.3%, to start from 4.29%. This range was launched in July and offers cashback of up to £15,000 to homeowners making sustainable upgrades to their homes. 

At 85% and 90% LTV, remortgage deals with a £995 fee and no fee have been cut by 0.1% to start from 4.69% and 4.89% respectively. 

Reductions have been made to BTL deals, with portfolio mortgages subject to a minimum loan size of £150,000.

The lender has also cut product transfer rates by up to 0.17% for residential borrowers, starting from 3.88%, and 0.22% for BTL, now starting from 3.99%. 

Changes come into effect from 13 September. 

 

Clydesdale Bank 

Also taking effect from 13 September, Clydesdale Bank has lowered mortgage rates by up to 0.39%. 

Headline cuts have been made to two- and five-year fixed rates for residential borrowers, now starting from 4.02%, and similar options for professional borrowers. 

Its exclusive product transfer rates at 65% LTV, fixed for two or five years, have been cut by 0.1% to start from 3.99%. 

Meanwhile, exclusive remortgage and large loan rates have been lowered by up to 0.3%. 

Today, NatWest, Yorkshire Building Society, Atom Bank and Suffolk Building Society have announced reductions to mortgage pricing.