Nationwide Building Society will be reducing selected mortgage rates by up to 0.30 per cent effective from tomorrow, Wednesday 10 February.

Rates are being reduced by up to 0.15 per cent on certain products, including:

• Two-year fixed rate at 75% LTV reduced by 0.05% to 1.54% with a £999 fee.
• Two-year fixed rate at 85% LTV reduced by 0.15% to 2.64% with a £999 fee and to 2.99% with no fee.
• Five-year fixed rate at 60% LTV reduced by 0.10% to 1.79% with no fee.
• Five-year fixed rate at 85% LTV reduced by 0.15% to 3.14% with no fee.

The society is also reducing selected rates for existing Nationwide customers moving home and seeking further advances by up to 0.30 per cent, including: 

• Two-year fixed rate at 80% LTV reduced by 0.05% to 1.99% with a £999 fee
• Five-year fixed rate at 85% LTV reduced by 0.30% to 2.99% with a no fee

Nationwide director of mortgages Henry Jordan says: “In the last year we have spent much more time at home, and it has allowed more people to really evaluate what they want from a property. Some will be looking for more outdoor space, others will want more space for a growing family or a home office. Whatever people are looking for in their new home, these latest reductions for house purchasers will help make the cost of moving home even more affordable.”