Nationwide Building Society has announced it is cutting rates on a selection of its two and five-year fixed and tracker mortgage products by up to 0.20%.
 
Rates in the two-year fixed rate product range have been reduced by up to 0.15%. The two-year fixed rate product for borrowers with a 40% deposit is now 1.19% with a £999 fee and 1.59% with no fee. Five year fixes start at 1.89% with a £999 fee.

Those with just a 10% deposit, predominantly first-time buyers, rates have been reduced to 2.24% with a £999 fee and 2.64% with no fee.
 
On track

Selected tracker rates have also been reduced, with the two-year tracker for those with a 40% deposit starting at 1.19% with a £999 fee and 1.59% with no fee.

The five-year tracker with a £999 fee has been cut by 0.20% and now starts at 1.69%.
 
All standard mortgage valuations with the lender are now fee-free, while first-time buyers receive a £500 cashback to help with the cost of moving. Remortgage customers are able to benefit from a free standard valuation and the choice between free standard legal work and £250 cashback.