Nationwide has cut all its two and three-year fixed rates by up to 0.30 percentage points for new applications.

All two-year fixed rates above 60% LTV have been reduced by 0.20 percentage points.

Nationwide’s lowest two-year fixed rate, previously available up to 50% LTV, is now available up to 60% LTV.

All three-year fixed rates at all LTV tiers have been cut by 20 basis points.

Martyn Dyson, head of mortgages at Nationwide, said: “If you want certainty about what your mortgage payments will be over the next two or three years