The product comes with a £999 product fee, while this is reduced to £499 for first-time buyers.
The building society has also reduced several fixed and tracker rates by up to 0.65%.
For example its 2-year tracker to 75% LTV now stands at 1.44%, while its 5-year fix to 60% LTV comes to 2.84%, both with a £999 product fee.
Richard Napier, divisional director of mortgages and savings at Nationwide, said: “With our lowest-ever fixed rate mortgage deal, Nationwide continues to offer the best possible rates to customers.
“We are also demonstrating our mutual difference by offering competitive fixed rate and tracker deals to all mortgage customers, whilst continuing to offer additional discounts for existing mortgage customers and first time buyers.”
Existing mortgage customers get a 0.10% discount on all new rates.
