Nationwide is cutting its mortgage rates by up to 0.18 percentage points as of today. 

The country's biggest building society is reducing rates across its two, three and five-year fixed-rate deals for new and existing customers. 

Here are some of the new rates available...

First-time buyers: 

• Three-year fixed rate at 85% LTV with a £999 fee is 4.34% (reduced by 0.15%)
• Two-year fixed rate at 75% LTV with a £999 fee is 4.09% (reduced by 0.10%)
• Three-year fixed rate at 95% LTV with no fee is 5.21% (reduced by 0.18%)
• Two-year fixed rate at 60% LTV with a £1,499 fee is 3.99% (reduced by 0.04%)

Existing and new customers moving home: 

• Two-year fixed rate at 90% LTV with no fee is 4.52% (reduced by 0.16%)
• Two-year fixed rate at 60% LTV with a £1,499 fee is 3.80% (reduced by 0.07%)
• Five-year fixed rate at 95% LTV with a £999 fee is 4.81% (reduced by 0.13%)
• Three-year fixed rate at 80% LTV with a £999 fee is 4.24% (reduced by 0.10%)

"We regularly review our rates because it's important that, as Britain's biggest building society, we maintain a competitive position in the market," said Carlo Pileggi, Nationwide's senior mortgages manager. 

"These latest changes will be particularly good news for those looking to move home, with rates now starting from 3.80%, and for first-time buyers as we make a wide range of cuts across those product ranges." 

Every Friday, we take an overview of the mortgage market with industry experts and round up the best rates with Moneyfactscompare.co.uk. 

Borrowers may be wondering whether the Bank of England will cut the base rate again this year after Thursday's decision to hold it at 4%.

Two members of the Monetary Policy Committee wanted a 0.25 point reduction, but the majority were set against it.

On the upside, the average two-year fixed rate at the beginning of this month was at its lowest level since September 2022, according to L&C Mortgages' tracker.

But borrowers can't afford to sit back when there's still a chance of rates edging higher, L&C's associate director David Hollingworth said.

The average two and five-year fixed rates stand at 4.98% and 5.02% respectively, unchanged from a week ago.

Lenders increasing rates included TSB, by up to 0.15%, and First Direct, by up to 0.20%. 

In contrast, Barclays cut fixed rates by up to 0.44%.

Rachel Springall, finance expert at Moneyfacts, said: "Uncertainties surrounding the outlook for interest rate moves have been evident in recent weeks, with volatile swap rates leading to a more cautious approach from lenders to make any significant changes. 

"Not only this, but many will be waiting with bated breath for the budget. 

"This waiting game, alongside forecasts for inflation to remain above target, makes it less likely for the Bank of England to make further rate cuts this year."

She said more affordable housing is needed, as buyers who can only borrow at higher loan-to-values run the risk of falling into negative equity if house prices plummet. 

"It's worthwhile trying to overpay each month to reduce the overall mortgage term."

Remortgage customers may be looking to save on the upfront cost of any deal and might also want a deal to cover a valuation or legal fees.

A Best Buy mortgage could be the most cost-effective choice in this instance - check out the options from Moneyfacts below...

Listen up Kat, Katherine, Sue, Suzy and those of you with a similar name - you can get a free katsu meal at Banana Tree next week. 

The restaurant chain is offering the free dish, worth up to £16.75, to anyone with a name close to Kat and Sue to celebrate national katsu curry day. 

You can claim the deal from Monday to Thursday next week from 4pm each day. 

You need to sign up for the free Big Flavour Club loyalty membership scheme and show your ID to your server to get the offer. 

You can choose from three dishes: 

• Katsu curry (£16.45)
• Katsu burger (£16.75) 
• Katsu carbonara (16.75) 

Britons are £20,000 worse off than they should be, according to a new report.

If growth had continued at the rate achieved in 2005, the typical family would now be earning £51,000, the Resolution Foundation found.

Instead they are bringing in just £31,000 on average, revealing the scale of decline in UK living standards.

"The existence of a permanently precarious group of working people, forever denied the rising prosperity that others enjoyed, has got worse, not better," says Clive Cowdery, Founder of the Resolution Foundation.

"This makes our economy weaker, and our society and politics less stable."

Since 2005, typical incomes for working-age families have grown by just 7%.

Some groups have fared better than others. Pensioner incomes have grown by 21%  and owner-occupiers by 14%.

The incomes of working-age families in private rented accommodation have increased by just 4%.

New users of the Amex cashback everyday credit card can get 5% cashback up to £125 over the first five months - but, of course, you should take the usual caution before getting any credit card. 

This is an improvement on the card's previous welcome offer, which gave shoppers the chance to earn up to £100 cashback over three months. 

After five months, you can earn 0.5% cashback on spending up to £10,000 and 1% cashback on spending above this amount. 

There's no limit on the cashback you can earn after the offer ends, but you need to spend at least £3,000 a year to continue to qualify for the reward.

The card comes with a purchase APR of 29.7%  and does not allow any balance transfers. 

You pay that rate of interest if you don't pay off your full balance by the due date each month.

Your purchase and cash interest rates will move up and down in line with the Bank of England base rate. 

Rates may also vary based on your individual circumstances. 

It's important to note that not everyone will be eligible for this card and there may be others that better suit your personal needs. 

You can compare credit cards before you apply to help you find one that covers your needs best.

Read the full terms and conditions of the Amex Cashback Every Day Credit Card here. 

Banks are competing for customers and three of them have launched new free cash deals to try to win you over this week. 

Lloyds came out swinging, luring people in with a market-leading £200 deal. 

The cash is available to new and existing customers who switch to one of the following accounts: 

• Club Lloyds Account - £5 monthly fee
• Club Lloyds Platinum Account - £27.50 in monthly fees 
• Club Lloyds Silver Account - £16.50 in monthly fees
• Lloyds Premier Account - £15 monthly fee 

To qualify for the deal, you need to use the current account switch service (CASS) to complete the changeover.

You need to have at least three active direct debits from your old account that are switched over to Lloyds - any set up after the change will not count. 

The cash will be paid directly into your account within 10 working days of your switch completing. 

Read all the terms and conditions of the accounts here.

NatWest came out next, offering  £175 to new customers who switch their main current account to the bank.

Customers qualify for the payment by switching to a Select, Reward, Premier Select or Premier Reward account using CASS, depositing £1,250 and logging into the mobile app within 60 days.

A further £60 in rewards is available each year for those signing up to the NatWest Reward account, which comes with a £2 monthly fee.

Every month, customers will receive £4 in rewards if they have two direct debits of £2 or more. Another £1 is earned for logging into the mobile app. 

The £175 will be paid within 30 days after completing these steps, provided the account remains open. 

You can read the full terms and conditions here.

Nationwide then launched a similar deal offering £175 for switchers, and 1% cashback and 5% interest on savings if you opt for a FlexDirect account. 

An added benefit is the Fair Share payment, which has given customers £100 for the past three years. 

To qualify for the incentive, customers must complete a full switch using CASS and not have benefitted previously from a Nationwide switching offer. 

At least two direct debits need to be moved over, a minimum of £1,000 must be paid in and one debit card payment needs to be made within 31 days of the account opening to qualify for the deal. 

Three current accounts are offering the deal: 

• FlexPlus: This also gives you family travel insurance, mobile phone insurance, UK and European breakdown cover and commission-free usage abroad for £18 a month.   
• FlexDirect: an online account paying 5% AER credit interest on balances up to £1,500 for the first year and offering 1% cashback on debit card spend, capped at £5 per month for the first 12 months. 
• FlexAccount: an everyday bank account where customers can bank online and in branch for no fee.   

Read the full terms and conditions here. 

"Uncertain" - it's a word we have heard from the Bank of England consistently this year as it makes decisions about interest rates, and today is no different.

The Bank of England governor Andrew Bailey said he expects further rate cuts to come, but when they come is more unclear. 

"We'll see how the news unfolds. I continue to think that there will be some further reductions, but I think the timing in spite of those is more uncertain," he said. 

"We're going to be watching very carefully to see how the economy unfolds before whatever we do next." 

On the bank's decision to sell off government debt, he said that it was "important to bring the size of its balance sheet down". 

"I want to be clear, we don't think there's a stress in the market, but we've seen across the world some increase in yields on government debt, particularly longer term debts," he said. 

"We take that into consideration in terms of what we feel we can do. So we've done two things today. We've reduced the amount of our active sales compared to this year and we've also decided to balance away from the longer term debt in terms of our active sales.

"I think that's just a sensible, pragmatic reaction to what I would describe as the conditions of the market."

Savers will be "frustrated" by today's decision after being hit by tumbling rates and high, sticky inflation.

The Bank of England held the base rate at 4% after making a 0.25% cut from 4.25% to 4% last month. 

Looking at the savings market, since the start of August 2025, the average easy access savings rate has fallen from 2.68% to 2.60%, and the average easy access ISA rate has decreased from 2.90% to 2.82%, Moneyfactscompare.co.uk said.

Analysis by the financial advice site found 976 savings accounts in September that beat inflation -  lower than the 1,606 inflation-beating deals it found in September 2024.

"Those savers frustrated to see their cash eroded by inflation might feel more inclined to secure a fixed rate bond or Isa in the coming months, with many paying a guaranteed return of 4% or more," Rachel Springall, finance expert at Moneyfacts said. 

"It might be disheartening for savers to find the rate on their account has been cut over the past month, but now is not the time to become apathetic."

Those with money idling in accounts paying less than the rate of inflation (3.8%) should shop around for a better deal, said Alice Haine, personal finance analyst at online investment platform Bestinvest.  

"Considering post-tax net returns is crucial, especially as fiscal drag pulls more of people’s income into higher income tax bands," she said. 

You can read about the current inflation-busting savings accounts on the market in today's Savings Guide...