Nationwide Building Society is cutting rates on some two- and five-year fixed and two-year tracker rate mortgage products by up to 0.1 per cent.
The 75 per cent loan-to-value two-year fixed rate product now starts at 1.34 per cent with a £999 fee and 1.74 per cent with no fee.
For those with a 10 per cent deposit, rates have been reduced to 2.19 per cent with a £999 fee and 2.59 per cent with no fee.
Nationwide said these are the lowest rates in this range it has ever offered.
The five-year fixed rate product with a 40 per cent deposit now starts at 1.84 per cent with a £999 fee and 2.04% per cent with no fee – also a historic low for Nationwide.
Henry Jordan, Nationwide’s director of mortgages, said: “We are making further reductions to selected rates across our fixed and tracker rate ranges, with a number of Nationwide mortgage rates reaching historic lows.
“As well as offering a wide range of competitive mortgage rates, Nationwide also offers additional benefits to first time buyers, home movers and those remortgaging to the society.”
Some two-year tracker rates have also been reduced, with those at up to 85 per cent LTV starting at 1.54 per cent with a £999 fee and 1.94 per cent with no fee and those at up to 90 per cent LTV starting at 2.19 per cent and 2.59 per cent respectively.
All Nationwide tracker mortgage products currently have no early redemption charges and existing mortgage customers benefit from a 0.1 per cent discount on the new customer rate.
Daniel Bailey, a mortgage broker with Middleton Finance, said: "The 90 per cent rate certainly sounds very competitive and it is nice to see Nationwide reduce the rates at the 10 per cent deposit level which will help first-time buyers."
damian.fantato@ft.com
