Nottingham Building Society launches new 5-year fixed mortgage products for foreign nationals

Nottingham Building Society has launched new 5-year fixed mortgage products to support foreign nationals looking to secure a home in the UK.

This expansion of its product range for foreign nationals is a direct response to feedback since its recent launch, with brokers highlighting a growing preference for lower interest rates.

The new range of 5-year products mirrors those already available to returning ex-pats, with features including loan-to-value (LTV) rates between 75% and 90%, a lowest interest rate of 5.29%, fixed mortgage rates until the end of July 2029, free legal fees for remortgages (standard legal fees only), and overpayments of up to 10% allowed per year.

The new range follows hot on the heels of Nottingham Building Society’s recently launched mortgage proposition aimed at directly supporting foreign nationals, outlining its commitment in supporting borrowers from overseas to achieve their home-buying dreams.

Alison Pallett (pictured), sales director at Nottingham Building Society, said: “We are delighted to meet the evolving needs of brokers and customers, and to support a segment of the market that has previously found it difficult to obtain a mortgage.

“This expansion underscores our commitment to providing innovative solutions that align with homeowners of all kinds, be it returning ex-pats, skilled workers from aboard or those born in the UK.

“As always, we’ve carefully considered broker feedback when launching new products and recognise the needs of our diverse membership.”