Nationwide Building Society has made mortgage reductions on all rates at 80%, 85% and 90% loan-to-value.

All fixed rates available at 90% loan-to-value (LTV) will be cut by 0.30 percentage points and fixed and tracker rates at 80% LTV and 85 % LTV by 0.10 percentage points for new applications.

First time buyers will continue to receive a £500 discount on the product fee for all mortgages with a £900 product fee. An additional 0.1 percentage points reduction is available on all rates for new applications from existing Nationwide mortgage customers.

None of Nationwide’s mortgage rates is being increased.

Key highlights include:

• New 3.99% two-year fixed rate up to 90% LTV with £900 product fee (3.89% for existing Nationwide mortgage customers)
  • First time buyers pay a reduced product fee of £400
  • Non-refundable booking fee of £99 is payable on reservation

• New 3.24% two-year fixed rate up to 85% LTV with £900 product fee (3.14% for existing Nationwide mortgage customers)
  • First time buyers pay a reduced product fee of £400
  • Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
  • Non-refundable booking fee of £99 is payable on reservation

• New 2.79% two-year fixed rate up to 80% LTV with £900 product fee (2.69% for existing Nationwide mortgage customers)
  • First time buyers pay a reduced product fee of £400
  • Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
  • A non-refundable booking fee of £99 is payable on reservation

• New 3.09% three-year fixed rate up to 80% LTV with £900 product fee (2.99% for existing Nationwide mortgage customers)
  • First time buyers pay a reduced product fee of £400
  • Remortgage borrowers receive a free standard valuation and the choice of either free standard legal fees or £250 cashback
  • Non-refundable booking fee of £99 is payable on reservation

Tracie Pearce, head of group mortgages at Nationwide, said: “These reductions at 80-90% LTV demonstrate how Nationwide is committed to supporting both first time buyers and home movers, enabling those with smaller deposits to access very competitive rates.

“In particular, the reduction of two year fixed rates available up to 90% LTV by 0.30% [sic] means that we are offering rates to both new and existing customers below 4%t.”