It will also accept applications for capital raising where the applicant has sufficient equity in an existing property.

There was a 76% increase in remortgage searches by over 65s between Q4 2024 and Q1 2025.

The lender has reduced two, three and five year fixed rates by up to 0.17%.

The lender has also trimmed purchase rates by up to 0.09%.

Nationwide has reduced rates by up to 0.29% for existing customers switching to a new deal or new customers remortgaging.

The products are aimed at those who anticipate changes in their financial circumstances or wish to take advantage of future rate adjustments.

James Lucas, director at Financial Reporter's parent company Barcadia Media, says as the remortgage season builds towards summer, one thing is clear: after a year of uncertainty,...

The data also shows a shift in fixed-term product preferences. 

Residential remortgage and product transfer rates have seen the largest reductions.

Approvals for remortgaging with a different lender also fell.