High street lender Nationwide will lower select two-, three- and five-year fixed mortgage rates by up to 0.25% from 28 February.
The lender’s lowest mortgage rate now stands at 3.99% and is available to existing customers looking to move to a new deal and to new customers looking to remortgage.
Nationwide is the latest of several lenders to offer sub-4% deals, with others including Santander, HSBC and Barclays.
Within its switcher range, which is for existing Nationwide customers coming to the end of their current mortgage deal, select two-, three- and five-year products up to 90% loan to value (LTV) have been cut, with rates starting from 3.99%.
This includes its five-year fixed rate at 60% LTV with a £999 fee at 3.99%, a fall of 0.13%. Its two-year fixed rate at 60% LTV with a £999 fee has been cut by 0.15% to 4.09%.
The lender’s five-year fixed rate at 75% LTV with no fee has been reduced by 0.17% to 4.32%.

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On the remortgage side, mortgage rate reductions of up to 0.15% have been made across two-, three- and five-year fixed rate products up to 90% LTV, with sub-4% deals available.
Nationwide’s five-year fixed rate at 60% LTV with a £1,499 fee is 3.99%, while its two-year fixed rate at 60% LTV with a £1,499 fee is 4.09%.
The lender’s five-year fixed rate at 60% LTV with no fee is 4.24% (reduced by 0.14%).
For first-time buyers, mortgage rate reductions of up to 0.25% across two-, three- and five-year fixed rate products up to 95% LTV have been made.
Examples include its five-year fixed rate at 90% LTV with a £999 fee, at 4.74%, its two-year fixed rate at 85% LTV with no fee, which is 4.99%, and the three-year fixed rate at 75% LTV with a £999 fee, which is 4.39%.
Within its new customers moving home range, there are reductions of up to 0.14% across two-, three- and five-year fixed rate products up to 95% LTV.
Nationwide’s five-year fixed rate at 60% LTV with a £1,499 fee is 4.02%, its three-year fixed rate at 60% LTV with a £999 fee is 4.09%, and its five-year fixed rate at 85% LTV with a £999 fee is 4.39%.
For existing customers moving home, mortgage reductions of up to 0.1% across two-, three- and five-year fixed rate products up to 95% LTV have been implemented.
For instance, its five-year fixed rate at 60% LTV with a £1,499 fee is 4.02%, its three-year fixed rate at 60% LTV with a £999 fee is 4.09%, and its five-year fixed rate at 85% LTV with a £999 fee is 4.39%.
Additional borrowing rates are being cut by up to 0.15% on two-, three- and five-year fixed products up to 90% LTV, with rates starting from 3.99%.
Carlo Pileggi, Nationwide’s senior manager for mortgages, said: “Our third set of rate cuts in three weeks should come as great news for borrowers. We remain as committed as ever to supporting all segments of the market, including those buying their first home or moving to their next, and with our switcher and remortgage rates starting from 3.99%, we aim to be front of mind for those looking for a new deal too.”
Virgin Money lowers select BTL mortgage rates
Virgin Money has confirmed that it will lower select buy-to-let (BTL) purchase and remortgage rates, along with BTL product transfer mortgage rates, from 28 February.
Within its BTL purchase and remortgage range, two-year fixed rates with a £995 fee will be reduced by 0.1%, along with its fee-saver equivalents.
Both five-year fixed rates with a £995 fee and its fee-free deals will be cut by 0.05%.
On the BTL product transfer side, two- and three-year fixed rates will be lowered by 0.1% and its five-year fixed rates will decrease by 0.05%.