Nottingham Building Society has launched its two 95% first-time buyer mortgages to intermediaries after only selling nationwide in branch before.
The Nottingham has offered a 95% mortgage to first-time buyers for many years through its own network of branch-based advisers, but this is the first time it has been extended to brokers as a nationwide offer.
The two new products are a three-year fixed rate of 4.59% and a five-year fixed rate of 4.79% both with no upfront booking fee and no arrangement fee.
Jonathan Cartlidge, senior product manager at The Nottingham, said: “Having offered 95% LTV products for a number of years through our own branch network we wanted to ensure that those customers outside of our traditional operating area could access these deals. The buoyant intermediary market allows us to spread the reach of these products further and continue to support new borrowers getting onto the property ladder, which is one of our key aims as a building society.”
The Nottingham reported its mortgage lending dropped 22.5% in the first half of the year from £346m to £268m.
It also unveiled plans to offer a whole of market mortgage advice offering across its branch network at the beginning of 2014, following annual results which showed the lender completed £693m in gross mortgage lending during 2013, a rise of 24% up on 2012.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
