First-time buyer products have seen reductions of 0.10%, with two-year fixed rates now starting at 1.44% up to 80% LTV and 2.89% at 95% LTV with a £999 fee. A three-year fixed rate has reduced to 2.99% at 95% LTV with no product fee.
Products for new customers moving home have seen reductions of up to 16bps, with the largest cut to a two-year fixed rate at 75% LTV, which is now available at 1.23% with no product fee. At 95% LTV, a two-year fixed rate has reduced to 2.84% with a £999 fee and a three-year fix has been lowered to 2.89% with no fee.
Remortgage products have been cut by up to 0.12%, with a three-year fix at 75% LTV reduced to 1.39% with no product fee and a two-year fix at 80% LTV reduced by 0.12% to 1.47% with a £999 fee.
For the Society’s existing members moving home, Nationwide is reducing rates by up to 0.17% on selected two, three and five-year fixed rate products starting from 60% LTV.
For those looking to purchase through shared equity, the Society will also be introducing market-leading rates by reducing rates on selected products by up to 0.35%. Rates start from 1.09% for two-year fixed mortgages and 1.24% for five-year fixes.
Nationwide is also reducing selected further advance, family deposit mortgage and switcher rates between 60% and 95% LTV by up to 0.17%.
Nationwide’s first-time buyer mortgages also come with £500 cashback, while those looking to remortgage to the Society can choose between £500 cashback or free standard legal fees.
Henry Jordan, Nationwide’s director of mortgages, said: “We regularly review our mortgage rates to ensure that we remain one of the most competitive lenders around for all types of borrowers, whether they are purchasing that first home, moving into their next or looking for a better deal on their existing property.
“These latest cuts and the introduction of market-leading rates on our shared equity range show we are doing all we can to support people as they look at all the options available to get into a home of their own.”
