The Nottingham launches six new competitive residential mortgage products

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The Nottingham is pleased to announce that we will be launching six new branch/direct exclusive residential mortgage products from 9am on Tuesday 12 March.

Nottingham Building Society Logo

Nottingham Building Society

Since 2008 we have lent over £350 million to first time buyers. The reductions we have made to our 3 and 5 year fixed rates mortgages. We hopefully can help even more people trying to take their first step on the housing ladder.
-- Martyn Bell

Martyn Bell, Mortgage Product Manager at The Nottingham, says, “Since 2008 we have lent over £350 million to first time buyers. The reductions we have made to our three and five year fixed rates, at 95% and 90% loan to value, will hopefully mean we can help even more people trying to take their first step on the housing ladder. All come with a free valuation for both purchase and re-mortgages, whilst free legals also apply to re-mortgages on the 90% LTV products to keep set-up costs down.

The new products have been priced extremely competitively and some now offer no booking or arrangement fees to support a growing demand from both existing homeowners and FTBs. As a top 10 building society, and estate agency, The Nottingham lends up to 95% loan to value to FTBs in its East Midlands heartland through its branches as well as directly by phone. In addition The Nottingham lends up to 90% LTV nationally throughout England and Wales.”

Key Product Points

  • Rates on existing four residential products at 90% and 95% loan to value have been reduced
  • Two further new products have been launched at lower loan to values to support customers with a higher deposit

First Time Buyer 95% LTV – Available only in our East Midlands heartland up to £150k per application

3 year, 5.49% (was 5.69%) fixed rate, no Booking or Arrangement fees
5 year, 5.69% (was 5.79%) fixed, £100 upfront Booking fee and £199 Arrangement fee

90% LTV
3 year, 4.29% (was 4.49%) fixed, no Booking or Arrangement fees
5 year, 4.39% (was 4.59%) fixed, £100 upfront Booking fee and £199 Arrangement fee

85% LTV
3 year, 3.59% fixed, £100 upfront Booking fee and £199 Arrangement fee

80% LTV
3 year, 2.99% fixed, £100 upfront Booking fee, £199 Arrangement fee

Additional important information:

  •     There are no Booking or Arrangement fees on the 3 year 95% and 90% LTV products
  •     There is a low booking fee of £100 and low arrangement fee of £199 on all other products
  •     Free basic property valuation for both purchase and re-mortgage applications
  •     Free legals cost for re-mortgages
  •     These products are only available via The Nottingham’s branch network or directly by phone        

Please visit http://www.thenottingham.com for full details.

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Peter Stanhope
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