Nottingham Building Society has announced a new package of product enhancements across its residential mortgage range, as it continues to respond to affordability pressures and support the needs of borrowers and brokers.
The changes include rate reductions of up to 0.17% across select residential products, including within its foreign national and retirement interest-only (RIO) ranges, alongside a suite of new £1,000 cashback options on 90% and 95% LTV products to support deposit-stretched buyers.
The society has also introduced an loan-to-income (LTI) extension to 5.5x across purchase and remortgage for applicants earning over £85,000, as well as stress rate reductions on all 2-year fixed residential products.
The society said these changes are directly informed by broker feedback and aligned with its commitment to delivering lending that meets the real-world needs of today’s borrowers.
Matt Kingston, sales director at Nottingham Building Society, said: “Affordability remains one of the most pressing issues facing the mortgage market and it’s our job to respond with solutions that help more people secure and keep their home.
“These latest changes are part of our continued drive to support brokers and borrowers with flexible products that reflect real life, whether that’s cashback to ease upfront costs or extended LTIs for those on modest incomes.
“We’re listening closely to what brokers are telling us and evolving our lending approach to match. We’re proud to be a mutual that’s stepping up where it matters most.”
