Nationwide has made cuts of up to 70 basis points across its two-, three-, five- and ten-year fixes and its two-year trackers.

For first-time buyers this includes the 60% LTV two-year fix with £999 being cut by 35 basis points to 5.54% and the 95% LTV ten-year fix with £999 having 20 basis points removed, taking its rate to 5.89%.

The headline cut – 70 basis points – occurs on the 95% LTV three-year fix with zero fee, which is now priced at 5.99%.

In its remortgage range, Nationwide has made cuts of up to 40 basis points. Standout changes comprise the 90% LTV three-year fix with zero fee being cut by 40 basis points, to 5.99%, and the 80% LTV five-year fix with £999 fee being reduced by 10 basis points to 5.29%.

The new customers moving home range, meanwhile, has seen, among other cuts, the 95% LTV three-year fix with zero fee received a 55 basis points cut, giving a rate of 5.99%, and the 60% LTV two-year fix with £999 fee having its price lowered by 35 basis points, to 5.54%.

Additionally, existing members moving home mortgages have had cuts of up to 55 basis points and shared equity rates are now cheaper b up to 35 basis points.

Nationwide director of mortgages Henry Jordan says: “Following recent uncertainty, markets have stabilised and swap rates have continued to fall. This allowed us to cut rates for existing mortgage members switching at deal maturity earlier this month and we are now reducing new lending.”