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Nottingham BS launches seven-year fixed rate mortgage

  • 22/02/2016
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Nottingham BS launches seven-year fixed rate mortgage
Nottingham Building Society is rolling out a seven-year fixed rate mortgage available at a loan-to-value (LTV) of up to 80%.

The deal, which is available from tomorrow, comes with an interest rate of 2.94% and has a £199 upfront booking fee and arrangement fee of £800.

Nottingham’s product is offered with a free basic valuation and an assisted legal package for remortgage customers. Extra payments of up to 10% can be made each year at a minimum of £500 and the mortgage is also portable.

Jon Cartlidge, senior product manager at The Nottingham, said: “Our new seven-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 seven-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.”

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