Nationwide also introducing a range of new £1,499 fee products at 90% and 95% LTV.

The cheapest two-year fix is now 0.60% lower than this time last year.

Rates have reduced by up to 0.30% across the new business range.

Rates have reduced by up to 0.25%.

The lender has reduced five-year standard and standard cashback product rates.

The bank has also enhanced its buy-to-let lending criteria.

Two and five-year fixed rates are now 0.37% and 0.12% lower than in March 2024.

10-year fixed rate residential products have seen the largest reductions.

The lender has announced widespread rate reductions across its standard, homebuying and retention ranges.

The lender has launched new products and increased its first-time landlord criteria.