The Nottingham announces new two-year fixed residential range

The Nottingham has launched a new range of two-year fixed residential mortgages.

Available at 80% LTV and above, the competitively priced products (see below) could be the perfect fit for first-time buyers – particularly with a trio of them including cashback – or others with smaller deposits.

· 80% LTV with no fees, 2.65%

· 85% LTV with no fees and £300 cashback, 2.80%

· 85% LTV with no fees, 2.68%

· 85% LTV with £999 fees (£0 upfront), 2.43%

· 90% LTV with no fees and £500 cashback, 2.96%

· 90% LTV with no fees, 2.76%

· 95% LTV with no fees and £500 cashback, 3.16%

· 95% LTV with £999 fees (£0 upfront), 2.82%

The Nottingham’s Head of Mortgage Product, Christie Cook, said: “We’ve unveiled a range of higher LTV products we hope will appeal to people with smaller deposits. It’s well documented how tough it is right now for first-time buyers, as well as many others, to achieve their property aims and ambitions so as a lender we are keen to ensure we continue to bring competitive products like these to market. We also know that following the pandemic many people are re-evaluating their situations and looking to remortgage onto cheaper deals whilst they consider their future options, which is another reason for us to remain agile with our mortgages offering.”

All of the two-year fixed mortgages offer a free basic valuation and are portable. Paid legal fees are available for remortgage customers, with cashback products available on purchase only.

The Nottingham also recently announced that people applying for mortgages with them will no longer have a hard footprint left on their credit file at the application and Decision in Principle (DIP) stage.

It means a broker can apply for a DIP on behalf of their client safe in the knowledge that it won’t impact on credit rating until it is converted into a full mortgage application (FMA).