The Nottingham has cut rates on its 2- and 5-year fixed residential products by up to 0.21% and has also unveiled a pair of 2-year discount mortgages.
The discount products come with a 1% (of the outstanding balance) early repayment charge and no fees. The 75% LTV product is priced at 1.70% (Variable Mortgage Rate minus 4.04%) and the 80% LTV has a rate of 1.85% (3.89% off VMR).
With regards to the rate reductions, the largest pricing adjustment is on the no-fee 5-year fixed 95% LTV product (see bullet points below), which could appeal to first-time buyers and those with smaller deposits.
- 2-year fixed 80% LTV with £199 upfront fees (£999 total), now 1.50% (was 1.65%)
- 2-year fixed 80% LTV with no fees, 1.90% (from 1.95%)
- New 5-year fixed 80% LTV with £800 fees (£0 upfront) at 1.75%
- 5-year fixed 80% LTV with no fees, now 2.00% (was 2.20%)
- 5-year fixed 95% LTV with no fees, 3.49% (from 3.70%)
The Nottingham’s head of intermediary sales, Nikki Warren-Dean (pictured), said: “Having recently revamped our buy-to-let offering we are pleased to today be announcing more products and rate reductions in the residential space.
“Part of our ongoing mortgage reinvention strategy is to ensure that we continue to offer choice for people whether purchasing or remortgaging and whatever their situation, and we feel these latest products are another tick in that box.”
