The Nottingham has announced new rate cuts on its two and five-year fixed residential products by up to 21 basis points.

The society has also unveiled a pair of two-year discount mortgages, which come with a 1% early repayment charge and no fees. These discount mortgages include a 75% LTV product priced at 1.70% while the 80% LTV has a rate of 1.85%.

With regards to the rate reductions, the largest pricing adjustment is on the no-fee five-year fixed 95% LTV product, reduced from 3.70% to 3.49%, with the society suggested this could appeal to first-time buyers and those with smaller deposits. The rest of the rate reductions come at 80% LTV.

The Nottingham head of intermediary sales, Nikki Warren-Dean, commented: “Having recently revamped our buy-to-let offering we are pleased to today be announcing more products and rate reductions in the residential space.

“Part of our ongoing mortgage reinvention strategy is to ensure that we continue to offer choice for people whether purchasing or remortgaging and whatever their situation, and we feel these latest products are another tick in that box.”

Share Story: