Nationwide Building Society is reducing rates on selected two-, three- and five-year fixed mortgages by up to 30 percentage points from tomorrow, Friday 9 December.

The cuts apply to products at 60% and 75% LTV.

The cuts include the five-year fixed remortgage rate at 60% LTV cut by 0.14% to 4.79%, while the two-year fixed remortgage at 60% LTV drops 0.15% to 5.24%. Both come with a fee of £999.

For new customers moving home, five-year fixed rates at 60% are reduced by 0.20% to 4.84% with a £999 fee.

There is also a two-year fix at 75% LTV reduced by 0.15% to 5.29% with a £999 fee and a five-year fix at 60% LTV cut by 0.30% to 4.99% with no fee.

In addition, Nationwide will be reducing its five-year fixed rates at 95% LTV for both first-time buyers and home movers to 5.89%, aligning these with the rates on the society’s current two-year fixed rate products at 95% LTV.

Nationwide Building Society director of mortgages Henry Jordan says: “These latest rate changes ensure our fixed rate products remain among the most competitive in the market for all types of borrowers, with rates starting at 4.79% for people joining the Society and 4.64% for existing Nationwide borrowers.”