The Nationwide Building Society has cut rates on certain two and five-year fixed and two-year tracker rate mortgage products by up to 10 basis points (bps).

Rates in the two-year fixed rate product range available up to 75, 80, 85 and 90% loan to value (LTV) have been reduced by up to 10bps, with the 75% two-year fixed rate product starting at 1.34% with a £999 fee and 1.74% with no fee.

At 90% LTV, rates have been reduced to 2.19% with a £999 fee and 2.59% with no fee, the lowest rates in this range ever offered by the Nationwide.

The five-year fixed rate product at 60% LTV now starts at 1.84% with a £999 fee and 2.04% with no fee – also a historic low for the UK’s largest building society.

Selected two-year tracker rates have also been reduced, with those at up to 85% LTV starting at 1.54% with a £999 fee and 1.94% with no fee and those at up to 90% LTV starting at 2.19% and 2.59% respectively.

All Nationwide tracker mortgage products currently have no Early Redemption Charges (ERCs). Existing mortgage customers benefit from a 0.10% discount on the new customer rate.

Henry Jordan, Nationwide’s director of mortgages, said: “We are making further reductions to selected rates across our fixed and tracker rate ranges, with a number of Nationwide mortgage rates reaching historic lows.

“As well as offering a wide range of competitive mortgage rates, Nationwide also offers additional benefits to first time buyers, home movers and those remortgaging to the Society.”