The campaign is part of the Nationwide Loyalty Rate Mortgages initiative, which compares its mortgage rates for existing customers to those of its top six high street competitors. Selected switcher rates will be reduced by 0.10%.

The Loyalty Rate Mortgages changes are as follows:

Five-year fixed rates

• 75% LTV with a £999 fee reduced by 0.10% to 2.84%.

• 75% LTV with no fee reduced by 0.10% to 3.04%.

Existing mortgage customers already benefit from an additional 0.10% discount on new customer rates.

The Loyalty Rate Mortgages initiative is only available to Nationwide’s existing mortgage customers who are looking to switch deal.