The Nottingham launches new 90% LTV offering

The Nottingham has made several residential rate reductions and announced the launch of a two-year fixed 90% LTV product.

Following feedback from brokers, the lender’s new fee-free 90% LTV offering, which is available for purchase or remortgage, has been introduced at a rate of 2.75%.

The building society has also announced further rate cuts of up to 65 basis points, with the biggest reduction coming on another two-year fixed offering – its fee-free 85% LTV product, which has now been reduced from 2.90% to 2.25%.

For borrowers looking for a longer fixed option, The Nottingham has also unveiled fee-free five-year 85% LTV mortgage, which has been reduced to 2.55% from 3.10%.

Due to “increased popularity” of other mortgage options, The Nottingham suggested that appetite for its three and 10-year fixed products has reduced, and the society confirmed these products have now been removed from its range.

Head of intermediary sales, Nikki Warren-Dean, commented: “It’s important that as we continue to reinvent our mortgage offering that we do so with broker views underpinning the positive steps we take.

“Recent feedback around what people are asking brokers for has definitely played a key role in bringing this latest group of products to life.”

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