The mortgage provider said the lowest rate for new and existing customers moving was 4.29%.
But there were some strong offers for first-time buyers, who will see discounts of up to 0.28% on fixed-rate deals when borrowing up to 95% loan-to-value (LTV).
In addition, Nationwide revealed, first-time buyers will also receive £500 cashback when they take out their mortgage with Nationwide.
It comes a week after the building society announced it was making price cuts on its ‘switcher’ range of mortgages, which are aimed at existing customers who are coming to the end of their deal and switching to another Nationwide product.
It said these latest changes are a continuation of its existing commitment on mortgage prices, that all switching product rates would be the same or lower than the remortgage equivalents.
Carlo Pileggi, Nationwide’s head of mortgage products, said: “These changes will support first-time buyers and movers, but also provide competitive options for people looking to remortgage.
“Following last week’s interest rate cuts on our switching offer for existing customers, this underlines our role as an all-round lender, focused on supporting borrowers across the housing market.”
Time to rethink the market, experts say
These latest changes have been welcomed by mortgage brokers including Rachel Geddes, director of strategic lenders at the Mortgage Advice Bureau, who said it was positive news for anyone considering their next step on the housing ladder.
If a major lender like Nationwide implements price cuts, it could offer hope that more lenders will follow suit.
Geddes offered advice for people looking for a mortgage or remortgage. “Whether you’re a first-time buyer, planning to move or nearing the end of your current mortgage deal, lower fixed rates can mean better affordability, lower monthly repayments and greater financial security.
“While switching and top-up interest rates remain unchanged, Nationwide’s latest cuts reflect the continued movement in the mortgage market, creating new opportunities for borrowers to secure a more competitive interest rate.
“For anyone looking to make their mortgage work harder, this is an excellent time to review the market.
“Speak to a mortgage advisor to understand how these changes may affect your borrowing power and whether a more competitive deal could be available to you.”