The products are both fixed for five years and available for house purchases.
One option is at 75% loan to value (LTV) and has a rate of 5.28% with £2,500 cashback. The second is available at 90% LTV, priced at 6.15% and offers £5,000 cashback.
Nottingham Building Society said the stamp duty threshold change taking effect from 1 April would add “thousands” to the overall price of completing a house purchase.
The nil-rate threshold will fall from £250,000 to £125,000, while the first-time buyer threshold will drop from £425,000 to £300,000.
The mutual said this could result in first-time buyers paying more than £5,000 in stamp duty and homemovers up to £2,500 more, depending on the property’s value.
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Matt Kingston, sales director at Nottingham Building Society, said: “The upcoming stamp duty changes are set to significantly increase the upfront costs of buying a home, making homeownership even more challenging – particularly for first-time buyers, who are already facing affordability pressures.
“With the nil-rate threshold for first-time buyers dropping from £425,000 to £300,000, many will now face thousands in additional costs just to get on the property ladder. At the same time, homemovers and second-home buyers will also see higher tax burdens, further complicating an already difficult market.”
He added: “We believe these changes should not deter people from achieving their homeownership ambitions. Our new cashback mortgage products are designed to provide practical financial support at a time when it’s needed most.
“By offering up to £5,000 in cashback, we aim to help ease the immediate financial impact of these changes and support buyers in securing a home in an increasingly expensive market.”
