Nationwide has cut rates across a number of its ranges by up to 35 basis points.

The most significant change occurs within its shared equity range, where headline rate reductions see two-year fixes start at 1.09% and five-year fixes start at 1.24%.

For first-time buyers, rates have been lowered by 10 basis points, with the 95% LTV three-year fix with zero product fee now at 2.99% and the 80% LTV two-year fix with £999 fee at 1.44%.

Residential borrowers moving home may enjoy cuts of up to 16 basis points. Here, the biggest change is the 75% LTV two-year fix with zero product fee, which is now 1.23%.

And at 95% LTV, the two-year fix with £999 fee has been cut by 8 basis points to 2.84%.

In the lender’s remortgage range, a 12 basis point cut means that 80% LTV two-year fix with £999 free is now set at 1.47%.

Nationwide director of mortgages Henry Jordan says: “These latest cuts and the introduction of market-leading rates on our shared equity range show we are doing all we can to support people as they look at all the options available to get into a home of their own.”