Nationwide becomes the latest major lender to cut fixed-rate home loans, with prices starting from 3.84%.  

The mutual will cut fixes by up to 20 basis points across selected two-, three- and five-year products from tomorrow. 

Highlights include: 

Switcher — Selected two-, three- and five-year rates at up to 95% loan to value reduced by up to 20bps, with rates starting from 3.84%.   

Additional borrowing — Reduced by up to 14bps on two-, three- and five-year rates at up to 90% LTV, with rates starting from 3.84%. 

First-time buyers — Reductions of up to 11bps across two- and five-year rates at up to 90% LTV, including:   

Five-year rates at 90% LTV, with no fee, are 4.49%, down by 10bps 

Remortgage — Reductions of up to 11bps across two-, three- and five-year rates at up to 90% LTV, including: 

Three-year rates at 85% LTV, with no fee, are 4.60%, down by 10bps 

The move comes after Barclays and HSBC were among major lenders to cut rates this week. HSBC is due to announce another rate cut tomorrow. 

Nationwide, senior manager – mortgages, Carlo Pileggi says: “We’re making further cuts across selected products from our fixed mortgage range to ensure that Nationwide continues to be front of mind for those looking to buy their first home, move to their next or who want to switch to a new deal.” 

John Charcol technical manager Nicholas Mendes adds: “Will we see Barclays and Halifax look to reprice as quickly as HSBC did following this latest round of cuts from Nationwide?  

“Margins are there to go lower, and I suspect there will be a couple of other lenders waiting in the wings before they come out from behind to lead the pack with a significant reduction. Co-op? Maybe?”