Some of them offer cashback or smaller deposits
The Nottingham Building Society has launched a new range of two-year fixed residential mortgages, aiming to appeal to people with smaller deposits.
Available at 80% LTV and above, the products could be the perfect fit for first-time buyers – particularly with a trio of them including cashback – or others with smaller deposits, Nottingham said.
“It’s well documented how tough it is right now for first-time buyers, as well as many others, to achieve their property aims and ambitions so as a lender we are keen to ensure we continue to bring competitive products like these to market,” Christie Cook (pictured), head of mortgage product at Nottingham Building Society, said.
“We also know that following the pandemic, many people are re-evaluating their situations and looking to remortgage on to cheaper deals while they consider their future options, which is another reason for us to remain agile with our mortgages offering,” she added.
All of the two-year fixed mortgages offer a free basic valuation and are portable. Paid legal fees are available for remortgage customers, with cashback products available on purchase only.
Nottingham also recently announced that people applying for mortgages with it will no longer have a hard footprint left on their credit file at the application and decision in principle stage.
Read more: The Nottingham removes hard footprint in early stages of the loan process.
It means a broker can apply for a DIP on behalf of their client, safe in the knowledge that it won’t impact on a credit rating until it is converted into a full mortgage application.
