The Nationwide Building Society is tomorrow (11 February) cutting a selection of two, three, five and 10-year fixed rates by up to 0.50 percentage points for existing Nationwide mortgage customers looking for a new deal.

Rates for the 70% LTV 10 year fixed rate product start at 2.89%, while the 80% LTV 2 year fixed rate product starts at 2.04%.

As part of the Nationwide Loyalty Rate Mortgages initiative, which compares the Society’s mortgage rates for existing customers to those of its top six high street competitors, selected switcher rates will be reduced.

The Loyalty Rate Mortgages changes are as follows:

10 year fixed
· 70% LTV 10 year fixed rate product with a £999 fee reduced by 0.50 percentage points to 2.89%.
· 70% LTV 10 year fixed rate product with a £0 fee reduced by 0.50 percentage points to 2.99%.
· 75% LTV 10 year fixed rate product with a £999 fee reduced by 0.40 percentage points to 3.44%.
· 75% LTV 10 year fixed rate product with a £0 fee reduced by 0.40 percentage points to 3.54%.

5 year fixed
· 60% LTV 5 year fixed rate product with a £999 fee reduced by 0.10 percentage points to 2.24%.
· 60% LTV 5 year fixed rate product with a £0 fee reduced by 0.10 percentage points to 2.44%.
· 90% LTV 5 year fixed rate product with a £999 fee reduced by 0.20 percentage points to 4.04%.
· 90% LTV 5 year fixed rate product with a £0 fee reduced by 0.10 percentage points to 4.24%.

3 year fixed
· 60% LTV 3 year fixed rate product with a £999 fee reduced by 0.10 percentage points to 2.04%.
· 60% LTV 3 year fixed rate product with a £0 fee reduced by 0.10 percentage points to 2.34%.
· 80% LTV 3 year fixed rate product with a £999 fee reduced by 0.10 percentage points to 2.64%.
· 80% LTV 3 year fixed rate product with a £0 fee reduced by 0.10 percentage points to 2.94%.

2 year fixed
· 80% LTV 2 year fixed rate product with a £999 fee reduced by 0.05 percentage points to 2.04%.
· 85% LTV 2 year fixed rate product with a £999 fee reduced by 0.05 percentage points to 2.44%.
· 85% LTV 2 year fixed rate product with a £0 fee reduced by 0.05 percentage points to 2.84%.

Existing mortgage customers already benefit from an additional 0.10% discount on new customer rates.

The Loyalty Rate Mortgages initiative is only available to Nationwide’s existing mortgage customers who are looking to switch deal.