News
Nottingham BS brings out five-year fixed deals for foreign nationals
Nottingham Building Society has released a range of five-year fixed rate products to support foreign nationals looking to buy a home in the UK.
The five-year products mirror those available for returning expats, with loan to values (LTVs) of between 75% and 95% available.
Pricing begins from 5.29%, which is lower than two- and three-year fixed rate options, and fixed mortgage rate expiry dates go until the end of July 2029.
There are free legal fees for remortgages, and overpayments of up to 10% are permitted per year.
The expansion of the range is in direct response to feedback after its recent foreign national launch, with brokers saying borrowers had a “growing preference for lower interest rates”.
Alison Pallett (pictured), sales director at Nottingham Building Society, said: “We are delighted to meet the evolving needs of brokers and customers, and to support a segment of the market that has previously found it difficult to obtain a mortgage.
An intermediary’s guide to understanding client vulnerability
Sponsored by Halifax Intermediaries
“This expansion underscores our commitment to providing innovative solutions that align with homeowners of all kinds, be it returning expats, skilled workers from abroad or those born in the UK. As always, we’ve carefully considered broker feedback when launching new products and recognise the needs of our diverse membership.”