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New fixed rates launched by The Nottingham

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Written by:
03/05/2022
The building society has introduced the deals to support first-time buyers with limited deposits
New fixed rates launched by The Nottingham

Nottingham Building Society has launched a range of new mortgages for borrowers with modest deposits.

The two-year fixed rates are available to borrowers with between a 5% and 20% deposit, which could be useful for first-time buyers.

And three of the new deals offer cashback of up to £500.

The new two-year fixed rates include:

  • 2.65% up to 80% of the property’s value, with no fees
  • 2.80% up to 85% of the property’s value,with no fees and £300 cashback
  • 2.68% up to 85% of the property’s value,with no fees
  • 2.43% up to 85% of the property’s value, with £999 fees
  • 2.96% up to 90% of the property’s value, with no fees and £500 cashback
  • 2.76% up to 90% of the property’s value, with no fees
  • 3.16% up to 95% of the property’s value, with no fees and £500 cashback
  • 2.82% up to 95% of the property’s value, with £999 fees.

The Nottingham’s head of mortgage product, Christie Cook, said: “We’ve unveiled a range of higher LTV products we hope will appeal to people with smaller deposits.

“It’s well documented how tough it is right now for first-time buyers, as well as many others, to achieve their property aims and ambitions so as a lender we are keen to ensure we continue to bring competitive products like these to market.

“We also know that following the pandemic many people are re-evaluating their situations and looking to remortgage onto cheaper deals whilst they consider their future options, which is another reason for us to remain agile with our mortgages offering.”

All of the two-year fixed mortgages offer a free basic valuation and are portable. Paid legal fees are available for remortgage customers, with cashback products available on purchases only.

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