The new rates will be effective from tomorrow, Friday 28 November.
The lender’s lowest rate now stands at 3.6% and is available to new and existing customers looking to move home and take out a two-year fixed rate product at 60% loan to value (LTV) with a £1,499 fee.
For existing and new customers moving home, reductions of up to 0.14% across two-, three- and five-year fixed rate products up to 95% LTV have been made.
An example is its five-year fixed rate at 75% LTV with no fee priced at 3.99%, a fall of 0.14%.
Within its first-time buyer range, cuts of up to 0.13% across two-, three- and five-year fixed rate products up to 95% LTV will be applied.
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This includes a three-year fixed rate at 75% LTV with no fee falling by 0.13% to 4.21%.
In its switcher range, reductions of up to 0.19% across two-, three- and five-year fixed rate products up to 90% LTV have been made.
An example is Nationwide’s three-year year fixed rate with no fee, which has gone down by 0.19% to 4.19%.
On the remortgage side, decreases of up to 0.14% across two-, three- and five-year fixed rate products up to 95% LTV will be made.
One such deal is its fee-free three-year fixed rate at 75% LTV, which will decrease by 0.14% to 4.24%.
Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re making rate cuts across our mortgage range, which should be welcome news to all types of borrowers. So, whether it’s a first-time buyer, homemover or someone looking to remortgage or switch their existing deal, Nationwide should continue to remain front of mind through its competitively priced products.”
Earlier this month, the firm announced that its gross mortgage lending increased to £22.2bn in the half year to 30 September.
Virgin Money reduces rates by up to 0.29%
Virgin Money will lower selected exclusive purchase, purchase, remortgage, buy-to-let (BTL) and product transfer deals by up to 0.29%.
Within its exclusive purchase range, rate cuts of 0.21% will be made. For example, its two-year fixed rate at 75% LTV will be lowered by up to 0.21%.
In its purchase range, reductions of up to 0.29% will be made across two-, five- and 10-year fixed rates, including its two-year fixed rate fee-savers, which will start from 4.21%.
On the remortgage side, selected two-year fixed rates will be cut, with its £999 fee options falling by up to 0.11% and fee-savers decreasing by up to 0.13%. They will start from 3.84% and 4.18%.
Within its BTL range, reductions of up to 0.17% will be applied to selected two- and five-year fixed rates with a 3% fee. An example is its two-year fixed rate with a 3% fee, which will fall to 2.87%.
In its product transfer range, selected two-year fixed rates will be reduced by up to 0.13%, starting from 3.62%.
Selected three-year fixed rates will fall by up to 0.19%, beginning from 3.84%, and selected five-year fixed rates will be cut by up to 0.06% and are priced from 3.76%.
