The 80% LTV BTL deals are available in its standard and limited company BTL ranges and come on two- and five-year terms.
The mutual has upped the maximum number of properties a landlord can BTL via an organisation to five and cut the minimum age of applicants to 21. The latter is a fall from 25.
Nottingham Building Society added that it will accept bounce-back loans from special-purpose vehicles (SPVs) and will be removing the need for business plans to be a part of a BTL application.
Matt Kingston, sales director at Nottingham Building Society, said: “UK landlords have faced significant challenges in recent years, from rising interest rates and tax changes to evolving economic pressures that have tested even the most experienced investors.
“We understand these pressures and are committed to providing solutions that make property investment more accessible and straightforward for current and aspiring landlords.
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“Our latest changes are designed to deliver a simpler, more flexible process that reflects the realities of today’s property market. By opening our doors to more landlords, including younger applicants and those with non-traditional business structures, we’re reaffirming our commitment to embracing difference and fighting financial exclusion.
“As a mutual, our purpose is to put people first, and we know landlords play a vital role in providing homes across the UK. By evolving our criteria and offering tailored solutions, we’re ensuring they can keep doing that while building a strong financial future for themselves.”
The mutual has been tweaking its proposition in the past few months; for example, by expanding its visa criteria and making stress rate reductions.
Nottingham Building Society also recently announced that it would be adopting auto-assisted underwriting technology to speed up decision-making and enhance its customer service.
Aldermore lowers limited-edition BTL rates and adds EPC deal
Aldemore has launched a two-year fixed limited-edition BTL product for landlords with an Energy Performance Certificate (EPC) rating of A, B or C. The product is priced at 4.69% and goes up to 75% LTV with a 3% fee.
The firm has also lowered rates by 0.1% for existing two-year fixed limited-edition products, with its individual and company landlords with single residential investment properties priced at 4.79% up to 75% with a 3% fee.
The multi-property equivalent comes to 4.74%.
Jon Cooper, director of mortgages at Aldermore, said: “It’s a lively mortgage market right now, with recent volatility in swap rates offering brokers and their clients opportunities to secure timely rates.
“We’re pleased to make these latest changes, with some of our rates amongst the most competitive in the market right now when compared to our peers.”
