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Nottingham Building Society relaunches self-build mortgages
The building society restricted mortgage lending at the start of lockdown but is gradually coming back to the market
The Nottingham has announced it will reintroduce lending on self-build mortgages.
The mutual’s two new self-build products will be launched on Monday and are available up to 80% loan-to-value on self-builds, conversions and renovation projects.
The mortgages are a two-year fixed rate at 4.49% with a fee of £1,499, and a two-year discounted mortgage at 3.99%, also with a fee of £1,499.
Nikki Warren-Dean, spokesperson at The Nottingham, said: “Bringing back self-build mortgages is the latest stage of our phased product range return, having recently reintroduced 80% LTV residential and 75% buy-to-let mortgages.
“Following the resumption of physical valuations we are also pleased to have added lending on renovations, in response to feedback from mortgage advisers and their clients.”
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