Related topic: Mortgage rates

Nationwide’s lowest rate now stands at 4.29%.

The new pricing is available for a limited period and applies to cases that complete by the end of August.

Overall, rates have fallen by an average of 0.11% with the largest cut being 0.22%.

The report and accompanying guide explain swap rates and why they matter more than Bank Rate when it comes to the pricing of fixed rate mortgages.

High-LTV products have seen the largest reductions.

The changes apply across two and five-year fixed terms for both homebuyers and landlords.

There are reduced options for both new and existing customers.

The Society's shared ownership mortgage rates have reduced by up to 0.65%.

Despite the average five-year fix being lower than the average two-year fix, demand continued to shift towards shorter-term deals.

The specialist lender says its dual-rate structure gives brokers more choice on affordability.