Nationwide is slashing the rates on a number of its fixed rate mortgages by up to 0.20%.
The move comes after the Bank of England cut interest rates to a new record low of 0.25% last week.
The 10-year fixed rate products are now at the lowest ever rate from 2.79% with a £999 fee and 2.89% with no fee with a 40% deposit.
The two-year fixed rate products start at 1.49% with a £999 fee and 1.89% with no fee, while the three-year fixed rate products are at 1.79% with a £999 fee and 2.09% with no fee. The five-year fixed rate range starts at 2.14% with a £999 fee and 2.34% with no fee.
The society has already confirmed it is going to pass on the base rate cut to its existing tracker mortgage, base mortgage rate and standard mortgage rate customers.
Nationwide Flex main current account holders who are taking out a Nationwide mortgage are also eligible for an additional £250 cashback.
Existing Nationwide mortgage customers receive a £250 cashback when they take a new mortgage deal, in addition to continuing to benefit from a 0.10% discount on new customer rates.
Henry Jordan, Nationwide’s head of mortgages, said: “Following the cut in the Bank of England Base Rate, we have already passed on the benefit in full to those customers on our BMR and SMR rates. Now we are reducing fixed rate deals for those looking for competitive rates and payment security over a wide range of terms and size of deposit.
“Standard valuations remain fee-free for all customers and Nationwide main current account customers can access a cashback of £250, both irrespective of which product they choose. For our existing customers, we offer both rates that are always discounted by 0.10% when compared to the new customer rate and a £250 for those mortgage customers moving home or switching to a new product.
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