Nationwide Building Society announces ANOTHER wave of mortgage rate cuts - full list of deals

This comes shortly after Nationwide's The Mortgage Works (TMW) announced a similar slew of interest rate cuts earlier this week.

A mortgage price war is heating up across the UK as high street lenders attempt to attract prospective homebuyers with deals.

NatWest, Barclays and Virgin Money are among the latest banks to bring down mortgage rates following recent intervention from the Bank of England.

In a win for borrowers, the central bank has slashed the UK's base rate from a 16-year high to five per cent with another cut expected later in the year.

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Here is a full list of mortgage rate deals for first-time buyers from Nationwide following this week's rate cut:

• Two-year fixed rate at 75 per cent LTV with a £999 fee is 4.49 per cent
• Three-year fixed rate at 90 per cent LTV with a £999 fee is 5.04 per cent
• Three-year fixed rate at 95 per cent LTV with a £999 fee is 5.44 per cent
• Five-year fixed rate at 95 per cent LTV with a £999 fee is 5.04 per cent

• Three-year fixed rate at 90 per cent LTV with a £999 fee is 5.04 per cent
• Three-year fixed rate at 95 per cent LTV with a £999 fee is 5.37 per cent
• Five-year fixed rate at 95 per cent LTV with a £999 fee is 5.04 per cent

Here is a full list of the mortgage rate deals for existing customers moving home after Nationwide's more rate decision:

• Three-year fixed rate at 80 per cent £999 LTV with a £999 fee is 4.59 per cent
• Three-year fixed rate at 95 per cent LTV with a £999 fee is 5.37 per cent
• Five-year fixed rate at 95 per cent LTV with a £999 fee is 5.04 per cent

Henry Jordan, the director of Home at Nationwide Building Society, said: “These latest reductions will ensure that we have some of the most competitive rates on the market with a particular focus on supporting first-time buyers in what remains a challenging environment.”

Property market analysts are alerting the public to the favourable mortgage deals that are likely to be coming their way over the next couple of months.

Craig Fish, the director at Lodestone Mortgages & Protection, said: "The rate war is well and truly underway, with lenders desperately trying to be at the top of the rate charts, where they will get the lion's share of the business.

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"With murmurings of bigger and faster rate reductions coming from the decision makers on Threadneedle street, this war is only going to get more fierce. This is great news for anyone needing a mortgage, but a word of warning, if you are planning on buying, don't delay, as the change to a sellers' market is now starting."

Ken James, the director at Contractor Mortgage Services, added: "This Friday 13th is shaping up to be anything but a horror show for the UK's borrowers. Nationwide have come out this week with some welcome rate cuts along with Virgin and Clydesdale to add to the announcements already made from the likes of TSB, NatWest and Halifax.

"There are plenty of other lenders who, before the end of the week, may also announce cuts, but the big players have set out their stall and told the markets they are open for business."

The Bank of England's next interest rate announcement will be on September 19.