Nationwide has made further cuts across its fixed rate mortgage range, lowering prices by up to 0.21 percentage points for borrowers completing from 5 December.

The building society has reduced selected two, three and five-year fixes for first-time buyers, movers, remortgage customers and existing borrowers switching onto a new deal.

The move follows a broader round of reductions announced at the end of last week and extends the return of sub-4% pricing across much of the society’s range.

RATES FALL BELOW 3.60%

Nationwide’s lowest fixed rate now stands at 3.58%, marking the first time since September 2022 that the mutual has offered a new customer mortgage below 3.60%. The cuts apply at loan-to-value bands up to 95%, with the deepest reductions concentrated among higher LTV lending to first-time buyers.

For those entering the market, rates have fallen by as much as 0.21 percentage points. A two-year fix at 85% LTV with a £999 fee is now 3.92%, while the equivalent product at 95% LTV with no fee is 4.68%.

Five-year pricing at 95% LTV has also been trimmed, with a £999-fee option now at 4.78%.

First-time buyers continue to receive £500 cashback upon completion.

FURTHER REDUCTIONS FOR MOVERS

Existing and new customers looking to move home have seen rates fall by up to 0.13 percentage points. A two-year fix at 60% LTV with a £1,499 fee is now 3.58%, while the 75% and 85% LTV equivalents have dropped to 3.67% and 3.81% respectively. Five-year pricing at 60% LTV has reduced to 3.80%.

Nationwide continues to apply its long-standing policy of offering existing customers moving home the same or lower rates than those available to new borrowers.

Cashback of up to £500 remains available through the mutual’s Green Reward scheme for those purchasing an energy-efficient property.

SWITCHERS AND REMORTGAGERS ALSO SEE CUTS

Borrowers coming to the end of a Nationwide deal have seen switcher products fall by up to 0.10 percentage points. A two-year fix at 60% LTV with a £999 fee now stands at 3.65%, while a five-year fix at the same LTV has dropped to 3.74%.

Remortgage customers have also benefited, with reductions of as much as 0.14 percentage points. A two-year fix at 60% LTV with a £1,499 fee is now 3.65%, while the five-year equivalent with a £999 fee has fallen to 3.79%.

-year pricing at 85% LTV with no fee has dropped to 4.35%.

These changes extend Nationwide’s customer pricing pledge, under which switcher rates are always the same or lower than equivalent remortgage products.

MUTUAL SIGNALS CONFIDENCE

Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re making cuts across our fixed rate mortgage range with even more of our rates now below 4%.

“These latest changes, which follow hot on the heels of the wide-ranging rate cuts we made at the end of last week, demonstrate that Nationwide remains focused on offering competitive rates to first-time buyers, home movers and those looking for a new deal.”