News in brief - 19 September 2023

Nottingham Building Society has launched a range of mortgage products and enhancements, which includes new three-year fixed residential products. The society has also enhanced its rates and cashback incentives in response to broker feedback. As part of the new products, the three-year fixed residential products are available at 75% LTV with £300 cashback, and 90% LTV, and are designed for customers who are looking to remortgage or are first-time buyers. The society has also reduced its residential five-year fixed rates by up to 0.20%, as well as introducing two new products at 75% and 85% LTV with no fees. The buy-to-let (BTL) five-year products have been reduced by 0.10% and a new fee is available on the limited company range, valued at £999.

Marc Howson has been appointed at director of compliance at Norton Group. As part of the role, which oversees activity across the group, including Norton Home Loans and Norton Broker Services, he will have responsibility to establish, implement and maintain robust policies and procedures to ensure the business is able to meet and monitor its regulatory obligations, with a focus on good customer outcomes. Howson brings 20 years’ experience in financial services to the role, having held operational, legal and compliance oversight roles at firms including heylo housing, Lowell, TransUnion, Kensington Mortgages and UK Asset Resolution.

Accord Mortgages has made changes to its BTL range, with two, three and five-year products being reduced by up to 0.51%, 0.45% and 0.25% respectively. The two-year fix as available at 75% LTV and is suitable for those remortgaging. It is currently fixed at 6.73%, down from 7.24%, and comes with no product fee and a free standard valuation. A two-year 6.31% fix is also available at 80% LTV is suitable for house purchase, coming with a £995 product fee, standard valuation and £250 cashback. Two five-year fixes have also seen changes. Both available at 60% LTV and suitable for remortgage, the products are listed at 5.54% and 5.38%. The former comes with a choice of £250 cashback or remortgage legal services, and a standard valuation, with the latter coming with a £3,495 product fee and remortgage legal services.

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