Nationwide shuffles mortgage rates

Nationwide Building Society will cut the price of some of its two year fixed rate deals, while increasing rates on selected tracker products.

Changes will come into effect from 1 November.

A two year fixed rate mortgage with a £599 fee is available from 5.59%. A two year fixed rate with no fee and 60% LTV has fallen from a previous rate of 6.48% to 5.99%, while there will be no change for rates fixed for over three years.

Most tracker rate products will see an increase. For example, a two year tracker with £599 fee and 60% LTV will rise from 5.68% to 6.08%.

Matthew Carter, divisional director for mortgages at Nationwide, says: "The wholesale markets continue to be unpredictable and we will continue to monitor and respond to market conditions and competitor activity."

Customers can call: 0800 30 20 10 for more information.