The Nationwide Building Society has reduced selected fixed, tracker and shared equity rates by up to 0.35 basis points.

Its two-year 60% loan to value (LTV) fixed rate product now starts at 1.34% with a £999 fee, which is Nationwide’s lowest-ever fixed rate, and 1.74% with no fee.

The three-year fixed rate mortgage deals start at 1.64% with a £999 fee and 1.94% with no fee.

Selected five-year fixed rates and tracker products for those with larger deposits have also been reduced.

Meanwhile, both two-year and five-year fixed rates in the shared equity range, covering all schemes including the Help to Buy Equity Loan scheme, have been reduced. Rates for the 60% LTV shared equity product are reduced by 0.35 basis points to 1.54% with a £999 fee and 1.94% with no fee, while the five-year fixed rate product have also been cut by 0.35 basis points to 2.29% with a £999 fee and 2.49% with no fee.

Henry Jordan, Nationwide’s head of mortgages, said: “We have introduced a wide selection of highly competitive rates across our range of fixed and tracker products, as well as all of our fixed rate shared equity mortgage deals.

“We also continue to offer additional benefits for both new and existing customers, such as a £500 cashback for first time buyers to help with moving costs, free standard valuations for all mortgage customers and the flexibility of no Early Redemption Charges for all tracker customers.”

Nationwide Flex main current account holders who are taking out a Nationwide mortgage are also eligible for an additional £250 cashback. Existing Nationwide mortgage customers receive a £250 cashback when switching to a new product or moving home, in addition to continuing to benefit from a 0.10 basis point discount on new customer rates.