Nationwide has reduced a number of its remortgage fixed rate deals by up to 0.20 per cent, along with chopping 0.10 per cent off one of its first-time buyer products.

This means that the FTB, house purchase and shared equity mortgage at 75 per cent LTV on a five-year fix is now set at 2.09 per cent with a £999 fee and 2.29 per cent with zero fee.

Regarding remortgages, the 60 per cent LTV two-year fix has been reduced by 0.05 per cent.

This provides a rate of 1.19 per cent with £1,499 fee, 1.29 per cent with £999 fee, and 1.74 per cent with zero fee.

The 60 per cent LTV five-year fix has been cut by the same amount, giving 1.34 per cent with £1,499 fee, 1.39 per cent with £999 fee and 1.79 per cent with zero fee.

Meanwhile, the 75 per cent LTV two-year fix has seen a 0.20 per cent reduction, with the product now set at 1.59 per cent with £999 fee and 1.99 per cent with zero fee.

And the 75 per cent LTV five-year fix has been reduced by the same amount, with the lender now asking for 1.69 per cent with £999 fee and 1.99 per cent with zero fee.

Nationwide adds that cuts of up to 0.20 per cent also feature across its 10-year switcher produce range, where rates now start from 1.99 per cent.

Nationwide director of mortgages Henry Jordan says: “We are making further rate reductions to make sure we remain one of the most competitive providers in the market at a time when demand remains high.

“These follow on from our recent reductions at 60 per cent LTV and highlight that Nationwide continues to support people looking to take advantage of the stamp duty holiday with attractive mortgage deals.”