Nationwide is reducing rates on a range of two and three-year deals for existing mortgage customers looking for a new home loan.
It will be cutting selected two and three-year fixed rate mortgages and two-year tracker deals by up to 0.20% from today.
Rates for the 85% LTV two-year fixed rate product will start at 2.14%, while its 75% LTV three-year fixed rate product starts at 2.29%.
The 85% LTV two-year tracker rate starts at 1.84%.
The reductions are 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.
Loyalty Rate Mortgages changes:
Two-year fixed:
85% LTV two-year fixed rate product with a £999 fee reduced by 0.10% to 2.14%.
85% LTV two-year fixed rate product with a £0 fee reduced by 0.10% to 2.54%.
Three-year fixed:
75% LTV three-year fixed rate product with a £999 fee reduced by 0.10% to 2.29%.
75% LTV three-year fixed rate product with a £0 fee reduced by 0.10% to 2.59%.
Two-year tracker:
85% LTV two-year tracker product with a £999 fee reduced by 0.20% to 1.84%.
85% LTV two-year tracker product with a £0 fee reduced by 0.20% to 2.24%.
Existing mortgage customers already benefit from a 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 does offer a core range of competitive rates for all mortgage applicants, as well as a £500 cashback for first time buyers.
Remortgage customers benefit from free standard valuation and the choice between free standard legal work and £250 cashback.
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