Nottingham Building Society said it would lower rates by up to 0.17% across selected residential deals, including its foreign national and retirement interest-only (RIO) ranges.
The firm has added a suite of new £1,000 cashback options on 90% and 95% loan-to-value (LTV) deals to “support deposit-stretched buyers”.
The building society added that it had extended the LTI to 5.5 times income across purchase and remortgage for applicants earning over £85,000.
All two-year fixed residential products have seen a stress rate cut.
Nottingham Building Society said the changes would “offer increased flexibility and practical support to a broader range of borrowers, including first-time buyers, older borrowers and those with complex financial situations”.
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Matt Kingston (pictured), sales director at Nottingham Building Society, said: “Affordability remains one of the most pressing issues facing the mortgage market and it’s our job to respond with solutions that help more people secure and keep their home.
“These latest changes are part of our continued drive to support brokers and borrowers with flexible products that reflect real life, whether that’s cashback to ease upfront costs or extended LTIs for those on modest incomes.
“We’re listening closely to what brokers are telling us and evolving our lending approach to match. We’re proud to be a mutual that’s stepping up where it matters most.”
