The Nationwide Building Society has cut all of its 95% LTV Save to Buy fixed rates by up to 0.35 percentage points, with rates starting at 4.44% for prospective buyers with a 5% deposit.

Key deals include:

• New 4.44% Save to Buy two year fixed rate up to 95% LTV with £999 product fee (4.34% for existing Nationwide mortgage customers). First time buyers pay a reduced product fee of £499
• New 5.19% five year fixed rate up to 95% LTV with £999 product fee (5.09% for existing Nationwide mortgage customers). First time buyers pay a reduced product fee of £499

With Nationwide’s Save to Buy initiative, savings accounts can be opened with a minimum of £50, with customers saving at least £50 per month for six months or more. If the customer goes on to take a Save to Buy mortgage, depending on how much they save, there is also a cashback reward of up to £1,000.

Richard Napier, Nationwide’s director of mortgages and savings, said: “We are aiming to help aspiring homebuyers with smaller deposits to secure a home of their own.

“With Nationwide’s established Save to Buy scheme, customers who have demonstrated a history of saving are being given the opportunity to access a range of competitive mortgage rates. This shows that good savings habits and strong credit quality go hand in hand.”