Nationwide Building Society has slashed interest rates across its fixed mortgage range in another overhaul. The announcement comes ahead of the Bank of England's upcoming base rate decision this month. The lender confirmed that the cuts would be effective from December 5, with deals for first-time buyers and new and existing customers.

The Bank of England's Monetary Policy Committee (MPC) meeting , scheduled for December 18, is widely expected to see rate-setters reduce the central interest rate from 4% to 3.75%. Ahead of the decision, Nationwide has cut mortgage rates by up to 0.21% points across two, three and five-year products in positive news for first-time buyers, as well as those moving home or searching for a new mortgage deal.

UK house prices stagnate in November a

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