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Nottingham Building Society relaunches self-build mortgages

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The building society restricted mortgage lending at the start of lockdown but is gradually coming back to the market
Nottingham Building Society relaunches self-build mortgages

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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