Nationwide is cutting the tracker rate on its Loyalty Rate Mortgages initiative from today.
It is reducing selected two-year tracker rates by up to 0.25% for existing Nationwide mortgage customers looking for a new deal.
Rates on its 60% LTV two-year tracker products now start at 1.19%, while its 85% LTV two-year tracker product starts at 2.24%.
As part of the Nationwide Loyalty Rate Mortgages initiative, which compares the Society's mortgage rates for existing customers to those of its top six high street competitors, selected switcher rates will be reduced.
Loyalty Rate Mortgages changes:
60% LTV two-year fixed rate product with a £999 fee reduced by 0.05% to 1.19%.
60% LTV two-year fixed rate product with a £0 fee reduced by 0.05% to 1.59%.
85% LTV two-year fixed rate product with a £999 fee reduced by 0.25% to 2.24%.
85% LTV two-year fixed rate product with a £0 fee reduced by 0.25% to 2.64%.
Existing mortgage customers already benefit from an additional 0.10% discount on new customer rates.
The Loyalty Rate Mortgages initiative is only available to Nationwide's existing mortgage customers who are looking to switch deal.
Nationwide also offer a core range of competitive rates for all mortgage applicants, as well as a £500 discount on mortgage fees for first time buyers.
Remortgage customers benefit from free standard valuation and the choice between free standard legal work or £250 cashback.
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