Nationwide has made changes to its fixed rates and tracker rate mortgages.

NewBuy and four-year fixed rates remain unchanged.

The UK’s largest building society is also changing the way it rewards customer loyalty by offering reduced rates to borrowers who choose to stay with the society.

Up to now, the society offered a range of loyalty rewards that varied depending on different customer circumstances. The new proposition means existing customers – whether borrowing more, moving home or simply just changing deals – will get a reduction on any rate selected from the Society’s full range of fixed and tracker rate mortgages, whether they come direct to Nationwide or through a broker.

In September, the mutual is set to broaden access to its Flexclusive deals to all its existing mortgage customers with a FlexAccount, not just those moving home.

New rates include:

Four-year fixed rate Flexclusive available to existing mortgage customers moving home at 2.99% (70% LTV) and new customers at 3.09% (70% LTV)

• £900 product fee, £99 booking fee (payable upfront and non-refundable)

Four-year fixed rate product fee-free option available at 3.39% (new customers), 3.29% (existing customers) – £99 booking fee will still apply

Flexclusives mortgages are available to all existing customers who use a FlexAccount as their main current account

Two-year fixed rate available to all existing customers at 3.39% (70% LTV) and new customers at 3.49% (70% LTV)

• £900 product fee, £99 booking fee (payable upfront and non-refundable)
• No booking fee payable for customers switching deals
• Existing customer rate available for further borrowing

Two-year fixed rate product fee-free option available at 3.89% (new customers), 3.79% (existing customers) – £99 booking fee will still apply

• £500 product fee discount for first-time buyers

Five-year fixed rate available for all existing customers at 3.59% (70% LTV) and new customers at 3.69% (70%) LTV

• £900 product fee – £99 booking fee (payable upfront and non-refundable)
• No booking fee payable for customers switching deals
• Existing customer rate available for further borrowing
• Product fee-free option available at 3.89% (new customers), 3.79% (existing customers) – £99 booking fee will still apply
• £500 product fee discount for first-time buyers

“We wanted to give existing customers the clear message that their loyalty is valued,” said Tracie Pearce, Nationwide’s head of mortgages. “We are demonstrating this by offering them lower rates than those we offer our new customers.

“When other providers use their best deals to lure in new customers, it’s reassuring to know that as an existing customer of Nationwide, you will be offered our very best rates either when you come to the end of your deal or if you want to borrow more.”