The mutual has repriced a trio of 65 per cent and 75 per cent loan to value (LTV) products, and made changes to criteria.
Their five-year fixed 75 per cent LTV mortgage with a £999 fee is available at a rate of 3.10 per cent, down from 3.40 per cent. A product fixed for the same period – and also at 75 per cent LTV – but with no fees has been cut to 3.40 per cent, from 3.70 per cent.
The Nottingham’s five-year fixed 65 per cent LTV limited company offering is now priced at 3.25 per cent, down from 3.40 per cent.
The update also comes alongside criteria changes, which apply to all buy-to-let deals including limited company products. The maximum loan size has been increased to £750,000 from £500,000 and this can be on an interest-only basis.
The maximum number of bedrooms allowed in a property has increased from four to five and minimum experience required for portfolio landlords has decreased to 24 months from 36 months.
The Nottingham’s head of intermediary sales, Nikki Warren-Dean (pictured) said: “As we’ve said when making rate cuts on a number of occasions over the last couple of months, having a flexible and competitively priced product range is very important.
“However, lending criteria is also important too. We pride ourselves on being #BuiltAroundBrokers and are pleased to say that these positive criteria changes come partly as a result of their feedback – further evidence of great relationships between us as a lender and the broker community.”
