Nationwide intensifies mortgage price war with its lowest rates for 8 months

Commentators said Nationwide’s new rates put it in ‘pole position’. Photograph: Hannah McKay/Reuters

Nationwide has intensified the mortgage price war by announcing big cuts to some rates that propel it to the top of the best-buy tables.

Britain’s biggest building society has “blown the doors off” with reductions of up to 0.81 percentage points, said brokers. Its new mortgage rates now start at 3.84% – the lender’s lowest rate for eight months.