Nationwide cuts its rates again

Nationwide is cutting rates across the majority of its fixed rate mortgages by up to 0.20 per cent and tracker rate mortgages by up to 0.10 per cent, effective from today. This is the second rate reduction announced by the building society in the past fortnight. Overall, some fixed rates have now fallen by up to 0.5 per cent and trackers by 0.3 per cent. But borrowers on the society's standard variable rate will not see a reduction in their monthly repayments.