The Nationwide Building Society is cutting rates across various products in its mortgage range.

Selected first-time buyer, house purchase and shared equity rates are being reduced by up to 0.40 percentage points.

New deals include the following:

• Two-year fixed rate at 75% LTV reduced by 0.40 percentage points to 1.59% with a £999 fee.
• Two-year fixed rate at 90% LTV reduced by 0.25 percentage points to 3.24% with a £999 fee and to 3.49% with no fee.

A number of the Society’s remortgage products will be reduced by up to 0.45 percentage points.

Examples include:

• Five-year fixed rate at 85% LTV reduced by 0.45 percentage points to 2.79% with a £999 fee and to 2.99% with no fee.
• Two-year fixed rate at 60% LTV reduced by 0.0 percentage points% to 1.14% with a £1,499 fee and by 0.10% to 1.19% with a £999 fee.

Rates on Nationwide’s Existing Customers Moving Home and Further Advances range will be reduced in line with those outlined above.

The Society’s two, three, five and ten-year switcher products at 60% and 75% LTV will be reduced by up to 0.20 percentage points with rates starting from 1.09%.

For those looking at borrowing more to make green improvements to their home, Nationwide will be reducing selected rates on its Green Additional Borrowing range by up to 0.35 percentage points.

On its later life mortgage range, the Society is reducing rates on its two and five-year fixed and two-year tracker Retirement Capital & Interest (RCI) and Retirement Interest Only products by 0.20 percentage points. Rates will start from 2.39%.

Henry Jordan, Nationwide’s director of mortgages, said: “These latest rate reductions showcase to borrowers that we want to continue offering some of the most competitive mortgage products on the market, as we look to support as many people as possible buying a new home or remortgaging their existing home.

“For those looking at their current property, we’ve also made a number of rate reductions on our Green Additional Borrowing and later life deals.”