Its new 95% loan-to-value ratio mortgage’s fixed rate is not far behind the lowest mortgage rate on the market.
Nottingham Building Society launched a new 2-year 95% loan-to-value mortgage with a fixed-rate of 2.39%. This means its new product, which is only available via intermediaries, is just 0.02 percentage points off the lowest rate on the market.
The lender will target first-time buyers with its new mortgage, which includes a product fee of £999.
“It’s important to us to do what we can to help first-time buyers achieve their dreams,” said Christie Cook, Head of Mortgage Product at Nottingham Building Society.
In addition, Nottingham Building Society has also released another 2-year 95% loan-to-value product with a higher interest rate of 2.78%. This offer includes a £500 cashback offer and no product fees.
However, both new offers come with a free valuation.
“We aim to keep evolving our products and services – including our focus on our offerings for first-time buyers and those with smaller deposits,” said Cook.
Its new 95% loan loan-to to-value ratio mortgage’s fixed rate is not far behind the lowest mortgage rate on the market.