Nationwide Building Society has announced it has removed all standard valuation fees from its mortgage range.

Customers can now choose any mortgage product from the building society and benefit from a fee-free standard valuation, whether they take out their homeloan directly through Nationwide or through a mortgage broker.

If borrowers choose a more detailed Nationwide Homebuyers Report they will now pay a reduced top-up fee, depending on the overall value of the property on a sliding scale, starting from £150. Customers requesting a full structural survey will be quoted for the cost on an individual basis.

In addition, all first-time buyers can access £500 cashback once they have completed their purchase, while remortgage customers are offered either free standard legals or £250 cashback.

Henry Jordan, Nationwide’s head of mortgages, said: “We have been looking for new ways to help customers buying a home or moving house, and we know that the upfront costs of moving can be an extra burden. The removal of all standard valuation fees from all mortgage transactions will aid both existing home movers and first-time buyers, who will also benefit from a £500 cashback on all mortgage products.”