From July 9, Nationwide will reduce the rates on its two year fixed rate and two year tracker mortgages.
It will also be launching a new two year tracker, available from 5.78 per cent with a £1,499 fee.
The two year fixed rate is available for house purchasers from 6.48 per cent with a £599 fee or from 6.88 per cent with no fee.
The two year tracker is available from 5.98 per cent with a £599 fee.
For remortgages and additional borrowing, the two year fixed rate with £599 fee is available from 6.58 per cent or with no fee from 6.98 per cent.
Nationwide divisional director for mortgages Matthew Carter says: “As a building society we always aim to offer our members the best possible deals. These price changes reinforce our message that, despite tougher market conditions, we remain very much open for business.
“These changes complement existing competitive three year products with reductions to key fixed rate and tracker deals. Aditionally, in response to borrower feedback, we have also launched a new two year tracker deal with a lower rate and higher fee. As with all of our tracker deals, our latest offer comes with the free facility to switch-and-fix onto any appropriate Nationwide fixed rate at any time during the life of the deal, without incurring an early repayment charge.”