Nottingham Building Society has launched a 7-year fixed rate mortgage at 2.94% to 80% loan-to-value.
Nottingham Building Society has launched a 7-year fixed rate mortgage at 2.94% to 80% loan-to-value.
The mortgage, which incurs a £199 booking fee and £800 arrangement fee, comes with a free basic valuation and assisted legals for remortgage customers.
Jon Cartlidge, senior product manager at The Nottingham, said: “Our new 7-year fixed-rate mortgage is open to everyone, which makes it unique in the current market.
“Since the recession there has been a long period when wages have fallen as inflation has outpaced average earnings.
“Our new 7-year fixed-rate mortgage is designed to ease the burden on borrowers with a tight budget. It will allow them to plan their finances ahead of any future changes in the base rate.”
The mortgage allows extra payments of up to 10% per year, with a minimum payment of £500.
