The Nottingham is bringing 80% LTV mortgages back to its residential range, and can confirm that physical property valuations have also resumed.
The products (see below) are available for purchases and remortgages, and include a free valuation and free standard legal costs on remortgage as well as the new tiered Early Repayment Charges the building society first introduced when it unveiled its new 10-year fixed rate residential product at the end of April.
Two-year fixed products (80% LTV. ERCs: 2% in year one and 1% in year two)
- 54%, fixed until 1 August 2022. £999 fees.
- 86%, fixed until 1 August 2022. No fees.
Five-year fixed products (80% LTV. ERCs: 5% in year one, descending to 1% in year five)
- 85%, fixed until 1 September 2025. £999 fees.
- 00%, fixed until 1 September 2025. No fees.
Nikki Warren-Dean (pictured), head of intermediary sales at the Nottingham, said: “This is the latest step in our phased return to adding lower deposit products to our portfolio. Re-introducing 80% LTV mortgages is significant in getting back to where we want to be.
“We are also pleased to confirm that physical valuations also resumed last week.”
The Nottingham says it is also looking to raise LTVs on buy-to-let products as soon as possible.