Nationwide Building Society will cut switcher rates across its two-, three- and five-year fixed-rate loans, up to 95% LTV, by as much as 31 basis points. 

Highlights of the mutual’s reductions, which come to market tomorrow (1 December), include: 

• Two-year fixes at 60% loan to value, with a £999 fee at 4.82%, down by 17bps 
• Three-year fixes at 75% LTV, with a £999 fee at 4.89%, down by 31bps 
• Five-year fixes at 95% LTV, with a £999 fee at 5.30%, down by 30bps 

The lender adds that it will cut additional borrowing rates by up to 31bps. 

Nationwide Building Society director of home Henry Jordan says: “These latest changes continue our existing mortgage customer pricing pledge, which promises that switcher product rates will be the same or lower than the remortgage equivalents.  

“This is the tenth reduction in rates we have made in four months and means we continue to offer some of the most competitive rates on the market.”