"All existing mortgage members are now able to access rates below five per cent, regardless of product term or loan to value."
Nationwide Building Society has reduced fixed rates for existing members switching to a new deal by up to 1.30%.
New two, three and ten-year fixed rates start at 4.84% with a £999 fee available across all LTVs.
In addition, five-year switcher rates have reduced to 4.64% with a £999 fee.
Additional borrowing rates will also reduce by up to 1.00% while green additional borrowing rates will reduce by 0.30%.
The Society has also reduced the window in which borrowers can switch to a new deal from six month to five months from 1 November and to four months from 1 December.
Henry Jordan, Nationwide’s director of mortgages, said: “Following recent uncertainty, markets have stabilised and swap rates are falling, which allows us to reduce switcher rates to levels towards those seen in September.
"All existing mortgage members are now able to access rates below five per cent, regardless of product term or loan to value. These changes will help our members to manage their payments when current deals end and is one of the ways our mutual status allows us to support them through the high costs of living.”
