Nationwide cuts rates

The fixed rates will be available from:

Two-year fixed rate (£699 fee): 4.88 per cent

Two-year fixed rate (£399 fee): 4.97 per cent

Three-year fixed rate (£399 fee): 5.18 per cent

Five-year fixed rate (£399 fee): 5.18 per cent

Ten-year fixed rate (£399 fee): 5.18 per cent

Steve Clode, divisional director, marketing, said: "Nationwide prides itself on offering some of the best mortgage rates on the high street - all borrowers, whether new or existing, can make significant savings by having their mortgage with the Society."

All of Nationwide's fixed rate mortgages allow borrowers to overpay or underpay during the deal period and are available to both new and existing borrowers.