The society has also cut its 2-year tracker to 3.49% by 0.05% available up to 85% LTV at BBR + 2.99%.
Both products come with a £900 product fee, a non-refundable £99 booking fee payable up front and a £500 product fee discount for first-time buyers.
All rates at 75% LTV and above are either unchanged or improved and 2-year and 3-year fixed and tracker rates available up to 70% LTV are rising by between 0.05% and 0.10%.
Martyn Dyson, head of mortgages at Nationwide, said: “Nationwide is committed to helping borrowers with smaller deposits obtain competitive mortgage rates.
“The 0.10% reduction on our five-year fixed rates between 75% and 85% LTV will help those who have a smaller deposit and who are looking for a longer term fix.”
