Nationwide Building Society will cut its rates on selected five- and 10-year fixed rate switcher mortgage products from 14 December.

The society will be reducing rates on its five-year fixed rate switcher products at 60% and 75% loan-to-value (LTV) by up to 0.20 percentage points.

These include the 60% LTV which has been reduced by 0.16% to 4.49% with a £999 fee and the 75% LTV which has been reduced by 0.10% to 4.54% with a £999 fee.

All of Nationwide’s 10-year fixed rate switcher products up to 95% LTV will see reductions of up to 0.40 percentage points.

The 60% LTV is 4.49% after been cut by 0.35% with a £999 fee, the 60% LTV went down by 0.40% to 4.59% with no fee and the 95% LTV has gone down by 0.20% to 4.64% with a £999 fee.

Nationwide is also reducing selected five and 10-year fixed rates on its additional borrowing range by up to 0.40% with five and 10-year rates starting from 4.49% with a £999 fee.

The rate on green additional borrowing is also being reduced by 0.20% with the rate now 4.49%.

Nationwide Building Society director of mortgages Henry Jordan says: “We’re making further reductions as part of our continued effort to support existing members who are coming to the end of their current Nationwide deal.”

“We reduced all fixed rate switcher mortgages to below 5% at the start of November, regardless of tenure and LTV. These latest reductions further enhance the competitiveness of the range and the support that we’re providing our mortgage members.”