New mortgage deals from Nationwide

Nationwide Building Society cuts fixed and tracker rates on selected products, with effect from Friday 2 October 2009.

Andy McQueen, mortgage director at Nationwide, said: "We've cut nearly 70 individual rates on our mortgages by up to 0.80%. For example, our two year fixed rate with no reservation fee for house movers has been reduced from 4.88% to 4.28% and our two year fixed rate with an £896 reservation fee at 85% LTV is reduced from 6.44% to 5.88%, making both products highly competitive.

"We've also extended the availability of some of our lowest 60% LTV rates to make them available to people with 25% or 30% deposits on selected products, meaning house purchasers and first time buyers with a smaller deposit now have access to some of our lowest rates.

"Existing customers switching products with limited equity also continue to benefit from one rate regardless of their LTV tier on the one, two and three year products. Furthermore, a capped tracker range is still available to help those who want to remain on a variable rate product with the guarantee that their rate will not go above 3.99%."