The Nottingham enhances LTIs and adds cashback options
The Society has also announced stress rate reductions on all two-year fixed residential products.
Nottingham Building Society has announced a series of product enhancements across its residential mortgage range.
The changes include rate reductions of up to 17bps across select residential products, including within its foreign national and retirement interest-only (RIO) ranges, alongside a suite of new £1,000 cashback options on 90% and 95% LTV products.
The Society has also introduced an LTI extension to 5.5x across purchase and remortgage for applicants earning over £85,000, alongside stress rate reductions on all two-year fixed residential products.
Matt Kingston, sales director at Nottingham Building Society, said: “Affordability remains one of the most pressing issues facing the mortgage market and it’s our job to respond with solutions that help more people secure and keep their home.
“These latest changes are part of our continued drive to support brokers and borrowers with flexible products that reflect real life, whether that’s cashback to ease upfront costs or extended LTIs for those on modest incomes.
“We’re listening closely to what brokers are telling us and evolving our lending approach to match. We’re proud to be a mutual that’s stepping up where it matters most.”
