The Nationwide Building Society is reducing selected mortgage rates by up to 0.30 percentage points on 10 February.

Selected house purchase rates are being reduced by up to 0.15 percentage points. Examples include:

• Two-year fixed rate at 75% LTV reduced by 0.05 percentage points to 1.54% with a £999 fee
• Two-year fixed rate at 85% LTV reduced by 0.15 percentage points to 2.64% with a £999 fee and to 2.99% with no fee
• Five-year fixed rate at 60% LTV reduced by 0.10 percentage points to 1.79% with no fee
• Five-year fixed rate at 85% LTV reduced by 0.15 percentage points to 3.14% with no fee

The UK’s largest building society is also reducing selected rates for existing members moving home and further advances by up to 0.30 percentage points, including:

• Two-year fixed rate at 80% LTV reduced by 0.05 percentage points to 1.99% with a £999 fee
• Five-year fixed rate at 85% LTV reduced by 0.30 percentage points to 2.99% with a no fee

Henry Jordan, Nationwide’s director of mortgages, said: “In the last year we have spent much more time at home, and it has allowed more people to really evaluate what they want from a property. Some will be looking for more outdoor space, others will want more space for a growing family or a home office. Whatever people are looking for in their new home, these latest reductions for house purchasers will help make the cost of moving home even more affordable.”