Mortgage News
Nottingham BS and Foundation sign broker panel deals
Nottingham Building Society has joined Air Mortgage Club’s retirement lending panel.
Members of Air, the equity release and later life mortgage club, will be able to access Nottingham BS’s retirement interest-only (RIO) deals.
The building society has five RIO mortgages which allow households to borrow up to 40 pc of the value of their home as a cash lump sum.
Fixed rates start from 3.34 per cent and a two-year discount mortgage deal is available at 2.99 pc.
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Foundation
In the buy-to-let sector, intermediary-only lender Foundation Home Loans has joined Brilliant Solutions’ mortgage club.
Foundation’s range of buy-to-let criteria includes an 80 per cent loan-to-value mortgage for property investors who are purchasing or refinancing using a limited company structure.
The deal has an interest cover ratio of 125 per cent of the pay rate for five-year fixed rates, there is no maximum borrower age, newly-incorporated limited companies are accepted and there is a maximum loan size of £1.5m.