These include a sub-5% five-year product
Nottingham Building Society has introduced a new range of residential mortgage products.
The mutual launched 12 new and enhanced residential mortgage products, aimed at providing customers with greater choice and competitive rates.
The Nottingham has unveiled two- and five-year residential mortgage products that are expected to attract those looking to remortgage.
The sub-5% five-year residential mortgage gives borrowers the option of long-term certainty despite volatile interest rates, while the new 60% loan-to-value (LTV) two-year residential mortgage product offers the option of holding a higher amount of equity in their homes. The latter is particularly useful for borrowers, it suggested, considering the lender’s new SOMP (sale of mortgage property as a repayment vehicle) option on an interest-only mortgage.
“We are excited to introduce these products, which not only offer competitive rates but also demonstrate our commitment to offering choice and meeting the evolving needs of our customers,” Alison Pallett (pictured), sales director at Nottingham Building Society, commented.
“Whether it’s for those considering remortgages or those exploring shared ownership mortgage products, we want to do all we can to empower people on their homeownership journeys.”
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