Previously the product stood at 4.14% and incurred a £1,999 arrangement fee.
The society is also offering a 65% LTV 2-year fix at 3.09% with a £299 booking fee and £200 arrangement fee.
Chris Gardner, The Nottingham’s deputy treasurer, said: “The run-up to the general election saw the UK markets weighed down by uncertainty as opinion polls put the two main parties neck and neck.
“With the uncertainty now lifted we are taking the opportunity to refresh our buy-to-let products. The range of fixed rate buy-to-let mortgages now includes a new, lower loan to value range, whilst the rate and fee on the existing 5-year fixed at 75% LTV have been reduced.
“These will help borrowers who require budgeting certainty, as whilst the government have pledged to fix the term of each parliament to five years, the Bank of England cannot offer the same commitment for bank rate!
“Whilst bank rate has remained unchanged at 0.5% for six years, the markets are currently pricing the first rise early next year.”