Nationwide has reduced mortgage rates across its fixed rate range for first-time buyers and home movers, with the changes taking effect today.

The building society has cut rates by up to 0.20% across two-year, three-year and five-year fixed products, bringing its lowest headline rate down to 3.50%.

For existing and new customers moving home, reductions apply across fixed rate products up to 95% loan-to-value. A two-year fixed rate at 60% LTV with a £1,499 fee now stands at 3.50%, following a 0.08% cut, while a three-year fixed rate at the same LTV with a £999 fee has been reduced by 0.13% to 3.62%.

At higher LTVs, a three-year fixed rate at 90% LTV with no fee has been reduced by up to 0.20% to 4.43%, and a two-year fixed rate at 85% LTV with no fee has fallen by 0.11% to 3.90%.

Nationwide said the latest changes continue its approach of offering existing customers who are moving home the same or lower rates than those available to new customers.

First-time buyers have also seen reductions of up to 0.17% across two-year, three-year and five-year fixed rates up to 95% LTV. A two-year fixed rate at 85% LTV with a £999 fee has been cut by 0.17% to 3.75%, while a two-year fixed rate at 60% LTV with a £1,499 fee has fallen by 0.16% to 3.67%.

A five-year fixed rate at 90% LTV with a £999 fee has been reduced by 0.07% to 4.22%. First-time buyers completing a mortgage with Nationwide also receive £500 cashback.

Both first-time buyers and home movers can benefit from additional cashback of up to £500 when purchasing an energy-efficient property through Nationwide’s Green Reward.

Carlo Pileggi, head of mortgage products at Nationwide, said: “Our first set of rate cuts this year will particularly support first-time buyers onto the property ladder as well as those looking to move to their next home.

“Rates starting at 3.50% for new and existing home movers will come as great news to those looking to move home in 2026.”