Nationwide has made an announcement of changes beginning on Tuesday, July 7.
It announced on Monday that it was slashing rates across its fixed rate mortgage range, as well as reducing charges on selected tracker mortgage products.
Brokers suggested that if swap rates remained favourable, further lenders were likely to reassess their pricing, with one noting that "lenders are clearly back in competition mode".
Nationwide mortgage rates will be reduced by up to 0.19% across two, three, five and ten-year fixed rate products, while rates will be cut by up to 0.12% on selected two-year tracker products.
The new rates take effect from tomorrow, Tuesday, July 7, and will apply across first-time buyer, home mover, remortgage and switcher products.
