The bank has also unveiled a 2-year tracker at 3.89% with no fee, while current customers get 0.10% knocked off the rate.
Richard Napier, Nationwide’s director of mortgages and savings, said: “There are currently few tracker mortgages at up to 90% in the market, so this addition to Nationwide’s range will particularly appeal to those looking for a competitive rate with added flexibility.
“With these Nationwide tracker products, customers will have the security of knowing they will not have to pay early repayment charges, which allows them to make overpayments at any stage and therefore reduce the amount of capital they owe.
“As a result, customers without large deposits will be able to benefit from a wider range of choices, including tracker and fixed rate deals, when choosing the most appropriate mortgage for their needs.”
Nationwide has also unveiled a 90% LTV 3-year flexclusive tracker at 3.59% for new customers and 3.49% for current customers.
Flexclusive trackers have no early repayment charges, meaning mortgage holders can make unlimited overpayments.
Nationwide has also made rate reductions on its loyalty mortgages, which compare its products to six high street competitors.
The lender is offering 80% LTV 3-year fixes at 2.74% with a £999 fee and 3.04% with no fee, while to 90% LTV its 5-year fix has been slashed by 0.10% to stand at 4.34%.
