All of the society’s two-year fixed interest rates available up to 70% loan-to-value (LTV) have been shaved by 0.1%, and Nationwide has introduced its lowest ever sub-2% fix.

Highlights of the new range include:

• A new 2.04% two-year fixed rate available up to 60% LTV (1.94% for existing Nationwide mortgage customers). 

The deal comes with a £400 product fee for first-time buyers and £900 product fee for other borrowers. Remortgagors receive a free standard valuation and the choice of either free standard legal fees or £250 cashback. A non-refundable booking fee of £99 is payable on reservation

• A new 2.44% two-year fixed rate (2.34% for existing Nationwide mortgage customers) available up to 60% LTV with no product fee. Remortgagors receive a free standard valuation and the choice of either free standard legal fees or £250 cashback. A non-refundable booking fee of £99 is payable on reservation.

Nationwide is also reducing all two and three year tracker rate products by up to 0.15%.

Tracie Pearce, head of group mortgages at Nationwide, said:

“These reductions clearly demonstrate our commitment to offering extremely competitive rates, both to new and existing customers.

“In particular, the reduction of two-year fixed rates available up to 70% LTV by 0.10% means we are offering our lowest ever fixed rate deal.”