The Nationwide Building Society is cutting its fixed and tracker mortgage rates across all LTV tiers.

The largest rate reductions will be applied to its two and three year 90% LTV mortgages, as follows:

Two year fixed rates will be reduced by 0.70 basis points, now available from 4.49% (4.39% for existing customers)
Three year fixed rates will be reduced by 0.60 basis points, now available from 4.69% (4.59% for existing customers)
Five year fixed rates will be reduced by 0.50 basis points, now available from 4.99% (4.89% for existing customers)

Other fixed and tracker rates will be reduced by up to 0.40 basis points.

“We’ve cut our rates a number of times over the last few weeks and not just for those with a large deposit,” said Tracie Pearce, Nationwide’s head of mortgages.

“This time, we will continue to make reductions across the board, but our largest cuts are on loans with an LTV of 90%.

“It’s a tangible demonstration of how we are utilising the Funding for Lending Scheme to reduce rates for customers at both ends of the LTV spectrum.

“We hope it gives first time buyers and other borrowers the boost they need to get the mortgage and home that they are looking for. The message is very clear – Nationwide is open for business.”