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The Nottingham Reduces Rates

The Nottingham has unveiled a series of residential mortgage rate reductions.

In its latest batch of competitively priced products the building society has lowered rates by up to 40bps.

The largest reduction is on its fee-free 90 per cent LTV five-year fixed product, which is now 3.20 per cent from 3.60 per cent.

Another 90 per cent LTV five-year fixed, that comes with £199 upfront fees (£999 in total), has been repriced at 3.00 per cent (from 3.30 per cent).

Those with the smallest deposits looking for a 95 per cent mortgage will note that The Nottingham’s fee-free five-year fixed option is now 3.70 per cent (from 3.85 per cent).

And for those with more funds to put down there is a rate reduction of 30bps on its fee-free 80 per cent LTV two year-fixed product, to 1.95 per cent from 2.25 per cent.

The building society’s large loan offering – minimum loan size £350k – has been reduced to 1.65 per cent from 1.85 per cent and has a £999 fee (£199 upfront).

All the above are available for purchase and remortgage.

To complete the latest stage of its mortgage range evolution The Nottingham has introduced a new five-year fixed remortgage-only product. It is priced at 2.20 per cent with no fees.

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “It’s been an extremely busy time for all of our teams involved across the mortgage mix but a really positive one as we continue to develop an evolving range of products.

She added: “These latest rate reductions put us in a very competitive position and, most importantly of all, cater for people looking to step onto or along the property ladder – or even stay where they are but on a better priced deal – whatever their needs.”