The lender added that its two-year tracker rates will be cut by 0.25%, and the new rates will be effective from 9 May.
Nationwide’s lowest remortgage rate is now priced at 3.84% and is available on both the two- and five-year fixed rate products at 60% loan to value (LTV) with a £1,499 fee.
Switcher rates for existing customers also begin from 3.84% with a £999 fee.
Within its remortgage range, two-, three- and five-year fixed rates will be cut, with an example being its two-year fixed rate at 60% LTV with a £1,499 fee, which has fallen by 0.1% to 3.84%.
Its five-year fixed rate at 60% LTV with a £1,499 fee will also fall by 0.1% to 3.84%, while its three-year fixed rate at 90% LTV with a £999 fee has fallen by 0.22% to 4.89%.
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Nationwide’s two-year fixed remortgage rate at 75% LTV with no fee is 4.54%, a fall of 0.11%.
In its switcher range, cuts of up to 0.21% have been made across selected two-, three- and five-year fixed rates, with pricing beginning from 3.84%.
For instance, its two- and five-year fixed rate at 60% LTV with a £999 fee is 3.84%, a decrease of 0.1%.
Nationwide’s three-year fixed rate at 90% LTV with a £999 fee is 4.89%, a cut of 0.21%, while its two-year fixed rate at 75% LTV with a £999 fee is 4.09%, down by 0.08%.
Carlo Pileggi, Nationwide’s senior manager for mortgages, said: “Our fourth set of rate cuts in three weeks shows how we are working hard to support all types of borrowers.
“The changes we’re making tomorrow are aimed at ensuring we are well-positioned to support both new and existing customers who are currently looking for a new mortgage deal and follow the rate cuts made earlier this week, which focused more on first-time buyers and homemovers.”
The rate cuts come off the back of rate cuts that Nationwide made earlier this week, with some mortgages reduced by up to 0.3%.
Leeds BS cuts resi rates
Leeds Building Society will reduce residential mortgage rates by up to 0.18% following the base rate cut.
The updated mortgage rates will be available from 10 May.
An example includes its residential no-fee three-year fixed rate at 80% LTV, which will fall by 0.18% to 4.59%.
The lender’s fee-free five-year fixed rate at 65% LTV will decrease by 0.05% to 4.26%.
Leeds Building Society said the product comes with a free standard valuation, a fees-assisted in-house legal service for remortgages, tapered early repayment charges (ERCs) and 10% penalty-free capital over repayment permitted each year.
Jonathan Thompson, senior product and pricing manager at Leeds Building Society, said: “The changes we have made to our mortgage range today will hopefully go some way to alleviating the pressure on homeowners who are coming towards the end of their fixed-term rate.
“We’ve implemented these changes to give brokers, buyers and homeowners greater choice as rates drop across the market, and we continue to assess our range of products in support of new and existing members.”
Santander lowers tracker products
Santander will lower tracker products by up to 0.25%, along with its follow-on rate.
For existing mortgage customers, pricing will fall by up to 0.25% from 3 June. This includes the follow-on rate, which will decrease to 7.5%.
New tracker rates will be updated to reflect the base rate change for new business and product transfer offers on 20 May.
