Nationwide Building Society is cutting its two and five year fixed rates by 0.10 percentage points.

It is also cutting its five-year fix NewBuy rates.

Nationwide’s mortgage range now includes:
Five year fixed rate available at 3.89% (up to 70% LTV)
£450 product fee (was £900) for house purchase, remortgage and existing customers moving home
£200 product fee for first-time buyers (was £400)
£99 booking fee (payable upfront and non-refundable)

Two year fixed rate available at 3.39% (up to 60% LTV)
£900 product fee for house purchase, remortgage and existing customers moving home
£500 product fee discount for first-time buyers
£99 booking fee (payable upfront and non-refundable)

NewBuy five year fixed rate available at 5.99% (90.01% to 95% LTV)
£450 product fee (was £900) for house purchase
£200 product fee for first-time buyers (was £400)
£99 booking fee (payable upfront and non-refundable)

Tracie Pearce, Nationwide’s head of group mortgages, product and pricing, said: “At a time when many lenders are increasing their rates, we’re pleased to offer our customers some good news by continuing to reduce ours. It’s particularly welcome for those wishing to fix for five years, especially as earlier this month we cut the product fees by half.”