Nationwide Building Society is reducing rates across the majority of its fixed rate mortgage products by up to 0.45%.

The lender said the new rates take effect from Wednesday (11 Oct).

It offers competitive rates to all types of borrowers from first home buyers to those switching to a new deal.

Nationwide said it is also reducing rates across its switcher range by up to 0.45%, with rates starting from 4.74% on five-year fixed products and 4.99% for three-year products.

These latest changes also continue the lender’s existing mortgage member pricing pledge.

This means the switcher product rates will be the same or lower than the remortgage equivalents.

Nationwide Building Society director of home Henry Jordan said: “We remain as committed as ever to supporting borrowers, which is why, with swap rates continuing their downward trajectory, we’re making yet more rate cuts across the majority of our product range.

“These latest rate cuts will ensure that we have some of the most competitive rates on the market for all types of borrowers whether it be first-time buyers, home movers or those looking to remortgage or switch deal.”

Below are full details of all rates included in these latest changes.

For new customers moving home: reductions of up to 0.45% across two, three, five and ten-year fixed rate products up to 95% LTV, including:

• Five-year fixed rate at 60% LTV with a £999 fee is 4.74% (reduced by 0.20%)
• Five-year fixed rate at 90% LTV with a £999 fee is 5.25% (reduced by 0.15%)
• Three-year fixed rate at 60% LTV with a £999 fee is 4.99% (reduced by 0.45%)

First-time buyers: reductions of up to 0.29% across two, three, five and ten-year fixed rate products up to 95% LTV, including:

• Five-year fixed rate at 90% LTV with a £999 fee is 5.30% (reduced by 0.08%)
• Five-year fixed rate at 60% LTV with a £999 fee is 4.84% (reduced by 0.10%)
• Two-year fixed rate at 60% LTV with no fee is 5.74% (reduced by 0.29%)

Remortgage: reductions of up to 0.36% across two, three, five and ten-year fixed rate products up to 75% LTV, including:

• Five-year fixed rate at 60% LTV with a £999 fee is now 4.89% (reduced by 0.10%)
• Two-year fixed rate at 75% LTV with no fee is now 5.59% (reduced by 0.36%)