The Nationwide Building Society is cutting rates on selected mortgages across its range by up to 0.20 percentage points.

The rate reductions include:

• House Purchase: reductions of up to 0.20 percentage points on selected two and five-year fixed rates. This includes the five-year fixed rate at 60% LTV with a £999 fee reduced by 0.05% from 1.39% to 1.34%.
• First-time buyers: rates reduced by up to 0.10 percentage points on selected two and five-year fixed rates. This includes the two-year fixed rate at 90% LTV with a £999 fee reduced by 0.05% from 3.24% to 3.19%.
• Remortgage: selected two and five-year fixed rates reduced by up to 0.05 percentage points. This includes the five-year fixed rate at 60% LTV with a £999 fee reduced by 0.05% from 1.39% to 1.34%.
• Shared equity: five-year fixed rate at 75% LTV with no fee reduced by 0.05 percentage points from 2.29% to 2.24%.

The UK’s largest building society is also launching a new 60% LTV mortgage with a £1,499 fee for house purchase, first-time buyers and existing customers moving home with a rate of 1.14%.

Rates on the Society’s existing customer moving home and further advance ranges will continue to be aligned to the lowest rates Nationwide offers new customers. This range will see reductions of up to 0.15 percentage points.

Henry Jordan, Nationwide’s director of mortgages, said: “As the country’s second largest mortgage lender, it’s important we demonstrate to all types of borrower that Nationwide continues to offer a wide range of mortgages with some of the most competitive rates on the market.

“That is why we’re making these latest reductions across a variety of LTVs as well as extending our £1,499 fee product to now make it available to first-time buyers and house purchase.”