The product is available at 80 per cent loan to value (LTV) with a rate of 2.25 per cent. It has no booking or arrangement fees and comes with a free valuation and standard legal fees are paid.
The mutual has also announced it will work to look at new cases received from brokers within one working day.
Nikki Warren-Dean (pictured), head of intermediary sales at The Nottingham, said: “Brokers are receiving many enquiries about remortgages, especially with so much uncertainty around. That is leading to many people seeing remortgaging as a sensible and stable option for them in the current climate.
“We are following our recent return to 90 per cent LTVs for those with smaller deposits with a mortgage that could be an option for those looking to stay where they are but on a more affordable deal for them over the next five years.”
“Our ongoing aim is to have products to suit all circumstances, but with a high number of people looking to remortgage and wait and see what the housing market does over the coming years we have reacted by introducing this product,” she added.
Skipton BS launches shared ownership deals
Skipton Building Society has released two shared ownership products at 90 per cent LTV as part of a series of changes to its range.
The two-year fixed shared ownership mortgage has a rate of 3.65 per cent while the five-year fixed has a rate of 3.79 per cent.
Other changes include rate reductions and the permanent withdrawal of two intermediary exclusive mortgages at 85 per cent LTV.
The rate on a two-year fixed fee-free mortgage at 80 per cent has been reduced from 2.74 per cent to 2.64 per cent while the £995 fee paying option has a rate of 2.25 per cent down from 2.59 per cent.
At 85 per cent, the two-year fixed mortgage with a £995 fee has been cut from 2.96 per cent to 2.73 per cent.
