The Nationwide Building Society is tomorrow (30 April) making a series of rate reductions across its mortgage range, reducing selected fixed rate deals by up to 0.20 percentage points.

The Nationwide will also be reducing selected deals for switchers as part of the Society’s Loyalty Rate Mortgage initiative.

As part of a broad range of reductions for those looking for payment security, two-year fixed rate deals with a £999 fee now start at 1.49%, while five-year fixed rate deals with a £999 fee start at 2.24%.

For those looking for longer term deals, the 10-year fixed rate product with a £999 fee starts at 3.14%. All these rates are for the 60% loan to value (LTV) products and come with a £999 product fee, reduced to £499 for first time buyers.

Existing mortgage customers benefit from at least an additional 0.10 percentage point discount on all new customer rates. Remortgage customers benefit from free standard valuation and the choice between free standard legal work or £250 cashback.

The Flexclusive four-year fixed rate deal, available exclusively to Nationwide main current account holders, starts at 2.04% for the 60% LTV deal with a £999 fee.

Henry Jordan, Nationwide’s head of mortgages, said: “This new range of fixed rates ensures Nationwide remains competitive and is designed to appeal to those looking for certainty of mortgage payments while interest rates remain at historic lows.”