The Nottingham announces four new residential fixed rate mortgage products
Martyn Bell, Mortgage Product Manager at The Nottingham, says, “After a successful January, these additions show yet further reductions for two and five year fixed rates at 70% and 80% LTV. All come with a free valuation for both purchase and re-mortgages, whilst free legals also apply to remortgages to keep set-up costs down.
The new products have been priced competitively to support a growing demand from both existing homeowners and FTBs as the housing market picks up. As a top 10 building society (and estate agency) The Nottingham lends up to 95% LTV to FTBs in its East Midlands heartland through its branches and directly by phone. In addition it lends up to 90% LTV nationally throughout England and Wales through selected mortgage brokers and a dedicated telephone team. This service also extends to a range of competitive BTL products for property investors.”
Key Product Points
· Rates on three residential products have been reduced:
o 2 year, 2.79% (was 2.99%) fixed, max 80% LTV
o 5 year, 3.44% (was 3.69%) fixed, max 80% LTV
o 5 year, 3.09% (was 3.29) fixed, max 70% LTV
· A new product with a max 70% LTV has been introduced:
o 2 year, 2.49% fixed
· These products are available for purchase and re-mortgage
· There is a £199 upfront Booking Fee which is non-refundable
· There is an £800 Arrangement Fee which is added to the loan on completion
· Free basic valuation for both purchase and re-mortgage applications
· Free legals cost for re-mortgage conveyancing (terms apply)
· These products are available via The Nottingham’s branch network, directly by phone or through selected intermediaries – see www.thenottingham.com for full details.