Nationwide will amend selected fixed and tracker mortgage rates with effect from Wednesday 30 November 2011. The Society will reduce rates available between 75% and 85% LTV on its five-year fixed rate mortgage by 0.10%. At the same time, the Society will make a number of other pricing changes.

Further details can be found below.

Martyn Dyson, head of mortgages at Nationwide, said: "Nationwide is committed to helping borrowers with smaller deposits obtain competitive mortgage rates. The 0.10% reduction on our five-year fixed rates between 75% and 85% LTV will help those who have a smaller deposit and who are looking for a longer term fix."

New rates include:

Five-year fixed rate available at 4.39% (85% LTV) - a cut of 0.10%

• £900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase and remortgage customers
• £500 product fee discount for first-time buyers
• Other rates from 70% to 90% LTV also available

Two-year tracker available at 3.49%, BBR + 2.99% (85% LTV) - a cut of 0.05%

• £900 product fee, £99 booking fee (payable upfront and non-refundable) for house purchase and remortgage customers
• £500 product fee discount for first-time buyers
• Other rates below 85% LTV also available

Please note:

• All rates at 75% LTV and above are either unchanged or improved.
• Two and three-year fixed and tracker rates available up to 70% LTV are being increased by between 0.05% and 0.10%.

• Applications are required for all products. Further details of terms and conditions are available on request.
• Mortgages are subject to underwriting criteria.
• Main FlexAccount customers benefit from an exclusive mortgage offer; the popular Flexible Mortgage. For eligibility criteria: http://www.nationwide.co.uk/current_account/account_benefits.htm

Key features of the fixed and tracker mortgage product range for new applications

• Flexibility:
  • Overpayments (no minimum; maximum of £500 per month on fixed and tracker mortgage deals).
  • Apply for a Further Advance, the additional borrowing facility.
• Valuation fee:
  • Varies based on purchase price of property and not product chosen.
  • Non-refundable for home buyers and home movers.
  • No standard valuation fees or standard legal fees for borrowers who are remortgaging.
• Free legal fees for house purchase cover the conveyancer's professional charges relating to the house purchase only when using one of our panel legal firms. The customer will be liable for some additional fees relating to the disbursements, e.g. Land Registry fees and local authority searches. Due to Northern Irish law, Nationwide is unable to offer free legal fees in Northern Ireland.
• Maximum LTV:
  • Lending above 85% LTV is available on three and five-year fixed rate mortgages.
  • 95% LTV mortgages are available to existing Nationwide mortgage borrowers switching at the end of their current deal or moving home and Save to Buy customers.
  • 90% LTV mortgages are available to existing Nationwide mortgage borrowers switching at the end of their current deal or moving home, first-time buyers and home movers.
  • First-time buyers can access 95% LTV products through Save to Buy.
  • 75% on new build flats and 85% on new build houses.
• Base Mortgage Rate
  • Any mortgage products reserved on or before 29 April 2009 will revert to the Base Mortgage Rate (BMR). If the borrower chooses to switch to a new Nationwide mortgage product, the new product will currently revert onto our Standard Mortgage Rate (SMR).
  • Both are variable rates which we may vary in accordance with our mortgage terms and conditions. However, the BMR is guaranteed to be no more than 2% above the Bank of England base rate, whilst the SMR has no upper limit or cap. If the borrower chooses to switch to a new product, it is not possible to switch back to the BMR at a later date.
• Standard Mortgage Rate
  • Mortgage products reserved on or after 30 April 2009 revert to the Standard Mortgage Rate (SMR).
  • The SMR is a variable rate which may vary in accordance with Nationwide's mortgage terms and conditions.
• All mortgages reserved on or before 3 March 2010 include the option to apply for a payment holiday and borrow-back facility. Any mortgages reserved after this date will no longer include these facilities.
• If the borrower is currently letting their property they will be unable to switch to a new mortgage deal and their mortgage will automatically revert to the Nationwide variable rate as stated in their mortgage offer.
• Early repayment charges for fixed rate and tracker mortgages
  Throughout the deal period, a percentage of the outstanding loan is payable as detailed below. Overpayments of up to £500 per month are permitted without the need to pay an early repayment charge.
  • Two-year fixed rate mortgage: 3%
  • Three-year fixed rate mortgage: 4%
  • Five-year fixed rate mortgage: 5%
  • Two-year tracker rate mortgage: 2.5%
  • Three-year tracker rate mortgage: 3%

Nationwide Building Society is the world's largest building society and a top-three provider of mortgages and savings in the UK. It is also a major provider of current accounts, credit cards and personal loans. With around 16 million members, Nationwide has a relationship with almost a quarter of the UK population.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the year 2010/11 Nationwide made a strong underlying profit of £276 million - up 30% from the previous year. Its strong financial performance and prudent business model means that Nationwide is included in Global Finance magazine's Top 50 Safest Banks in the World.