The Nationwide Building Society has cut selected five-year fixed rate mortgage deals by up to 0.15 percentage points for existing Nationwide mortgage customers looking for a new deal. 

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 five-year fixed rate with a £0 fee reduced by 0.15 percentage points to 3.24%
• 90% LTV five-year fixed rate with a £0 fee reduced by 0.10 percentage points to 3.84%

Existing mortgage customers already benefit from a 0.10 percentage points discount on new customer rates.

In addition, the 85% five-year fixed rate product with a £999 fee at 3.24% has been withdrawn.