The Nationwide Building Society will tomorrow (10 June) cut selected two and three-year fixed rate and two-year tracker rate mortgage deals by up to 0.20 percentage points for existing Nationwide mortgage customers.

85% LTV two-year fixed rate products will start at 2.14%, while the 75% LTV three-year fixed rate product starts at 2.29%. The 85% LTV two-year tracker rate starts at 1.84%.

The reductions are 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.

The Loyalty Rate Mortgages changes are as follows:

Two-year fixed
· 85% LTV two-year fixed rate product with a £999 fee reduced by 0.10 percentage points to 2.14%.
· 85% LTV two-year fixed rate product with a £0 fee reduced by 0.10 percentage points to 2.54%.

Three-year fixed
· 75% LTV three-year fixed rate product with a £999 fee reduced by 0.10 percentage points to 2.29%.
· 75% LTV three-year fixed rate product with a £0 fee reduced by 0.10 percentage points to 2.59%.

Two-year tracker
· 85% LTV two-year tracker product with a £999 fee reduced by 0.20 percentage points to 1.84%.
· 85% LTV two-year tracker product with a £0 fee reduced by 0.20 percentage points to 2.24%.

Existing mortgage customers already benefit from a 0.10 percentage point 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.