But it is also increasing rates on its two and three year tracker mortgages for borrowers with deposits of less than 10 per cent.
The lender will reduce the rates on its two, three and five year fixed rates and two year and lifetime tracker mortgages.
Nationwide divisional director for mortgages Matthew Carter says: “As a building society we always aim to offer our members the best possible deals. For the second time this month, we are in a position to reduce the rates on mortgages, offering some of the most competitive rates in the market.
“As part of our commitment to rewarding customer loyalty we now have a Lifetime tracker mortgage offering a good deal for customers who are switching their Nationwide mortgage.
Carter adds: “In addition to fees starting from £299 for first time buyers and the option to switch and fix on any tracker mortgage, customers can have confidence taking a mortgage with Nationwide whether they are buying, re-mortgaging or coming to the end of their existing deals”.