Nationwide offers its lowest-ever fixed rate mortgage

The new two-year fixed rate deal, available up to 60 per cent loan-to-value, has a rate of 1.84 per cent for new mortgage customers, and 1.74 per cent for existing mortgage customers. This comes with a £999 product fee, reduced to £499 for first-time buyers.

In addition, the Society is reducing selected fixed and tracker rates across its mortgage range by up to 0.65 per cent.

Two-year fixed rate deals are reduced by up to 0.55 per cent, while three- and four-year fixed rate deals are reduced by up to 0.5 per cent and start from 2.29 per cent. 

Five-year fixed rate mortgages are reduced by up to 0.55 per cent and start at 2.84 per cent.

Tracker rates are also reduced by up to 0.65 per cent, starting at 1.44 per cent for the two-year tracker, available at up to 75 per cent loan-to-value.

Nationwide spokesperson Richard Napier says: “With our lowest-ever fixed rate mortgage deal, Nationwide continues to offer the best possible rates to customers.

“We are also demonstrating our mutual difference by offering competitive fixed rate and tracker deals to all mortgage customers, whilst continuing to offer additional discounts for existing mortgage customers and first time buyers.”