Nationwide Building Society will reduce rates across its mortgage range on Wednesday, with cuts of up to 0.25 percentage points across two, three, five and 10-year fixed products for both new and existing customers.

The changes mean the lender’s lowest rate now stands at 3.64%, available to home movers taking out a two-year fixed deal at 60% loan-to-value (LTV) with a £1,499 fee.

The move introduces sub-4% rates across all borrower types, including first-time buyers, remortgage customers and switchers.

For movers, reductions of up to 0.24% apply across the range up to 95% LTV. Highlights include a three-year fix at 60% LTV with a £999 fee, now priced at 3.75%, and a five-year fix at 60% LTV with the same fee at 3.89%. At 85% LTV, a two-year fix with a £999 fee falls to 3.99%.

REMORTGAGING

Remortgage customers will see reductions of up to 0.25%, with a two-year fixed rate at 60% LTV cut to 3.79% and the five-year equivalent now 3.89%. Those borrowing up to 80% LTV can access a two-year fixed rate at 4.19%.

Existing Nationwide customers switching at the end of their deal will benefit from similar reductions, including a five-year fixed rate at 60% LTV with a £999 fee now at 3.84%. The building society reaffirmed that all switcher product rates will be the same or lower than the equivalent remortgage rates, in line with its customer pricing pledge.

First-time buyers also benefit from cuts of up to 0.17%, with a two-year fix at 85% LTV with no fee now priced at 4.34%, and a five-year fix at 90% LTV with a £999 fee at 4.35%.

Carlo Pileggi, Nationwide’s head of mortgage products, said: “We’re making rate cuts across the majority of our fixed rate mortgage range with a number of sub-4% products and a market-leading rate for home movers.

“These changes will put Nationwide firmly on the radar for all borrower types as we aim to position the country’s largest building society as one of the most competitively priced lenders in the market.”