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Nottingham BS restarts lending through 12 mortgage distributors

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  • 03/11/2020
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Nottingham BS restarts lending through 12 mortgage distributors
The Nottingham has relaunched its mortgage range through a restricted number of distributors after temporarily withdrawing its products in late September after ‘unprecedented application levels’ this summer.

To maintain the expected levels of service, the building society will be offering its mortgages via a limited distribution of 12 networks and large firms. These are:

• BuildLoan
• First Complete (part of the Primis network)
• London & Country
• Mortgage Advice Bureau
• Mortgage Intelligence
• Openwork
• Personal Touch (part of the Primis network)
• Pink (part of the Primis network)
• Quilter
• Sesame
• Stonebridge
• Tenet

The building society has returned with a range of fixed rate and discount residential, buy to let, limited company buy-to-let and self-build products.

The rate card lists a five-year residential fix to 80 per cent loan to value (LTV) at 2.85 per cent with a £199 booking fee, free valuation and legals and a five-year fix to 75 per cent LTV offered at 2.55 per cent.

The mutual is also offering a two-year discount at 2.75 per cent to 70 per cent LTV, also with £199 booking fee, free legals and valuation and there’s also a ten-year fix to 80 per cent LTV at 3.65 per cent, with £499 in combined fees, offered with free legals and valuation.

The Nottingham’s head of intermediary sales, Nikki Warren-Dean, (pictured) said: “We are happy to have mortgages available again following the temporary break, which acted as a positive opportunity to work through the unprecedented level of applications.

“We can assure all brokers that this is structured in a way that eases us back into the marketplace in a measured way to ensure we can maintain our high levels of service. We hope to be able to open up distribution to our entire broker network in the very near future.”

Ying Tan, founder and chief executive, Dynamo: “The Nottingham’s return to lending is certainly positive news. With tenant demand particularly high at the moment and many landlords looking to expand their portfolios while the current stamp duty holiday is still in place, a flexible lender such as The Nottingham is always going to be well-received.”

He said: “As we enter another lockdown, the importance of service levels cannot be underestimated, so it’s good to see them prioritizing this aspect of their proposition.”

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