The lender said that the product updates were “designed to provide even more options and flexibility to brokers, whilst helping more individuals in their pursuit of home ownership”.
Nottingham has cut residential two-year fixed rates by up to 0.23 per cent and brought out 75 and 85 per cent loan to value (LTV) products with no fees.
The firm has also refreshed end dates to 31 December on all two-year fixed rates.
Alison Pallett (pictured), sales director at Nottingham Building Society, said: “In the last six months, we have been making significant enhancements to our new business criteria, and there are more to come. In the meantime, we have taken the decision to enhance the procuration fee we pay on our standard residential product transfers, with immediate effect.
“We understand and appreciate the value of advice to new and existing customers and all of the work this involves; we hope this increase sends out a strong message and demonstrates our continued support to our intermediary partners who work tirelessly to do the right thing.
“The changes are also further evidence of our strategy of making home buying more accessible for those borrowers who have historically struggled to secure mainstream mortgages.”
Great news from an understanding lender
Andrew Montlake, managing director of Coreco, added: “This is great news from a lender that clearly understands the broker market and appreciates the hard work they do.
“The advice process brokers follow, especially in the wake of ever-changing rates and Consumer Duty, is no different whether arranging a product transfer or a remortgage.
“Brokers and lenders need to work together now more than ever for the benefit of our clients, and sometimes it is steps like this that acknowledge important role brokers play in ensuring clients get proper advice that can make all the difference.”
