Nottingham cuts limited company product rate

The product now comes with an interest rate of 2.58 per cent, down from 2.71 per cent. It includes a free basic valuation and the ability to overpay by up to 10 per cent each year. A £999 arrangement fee is added to the loan.

Christie Cook (pictured), head of mortgage product at the mutual, noted that the lender reviewed its entire range on an ongoing basis, with the limited company deal already proving popular at the higher price point.

She continued: “Alongside the recent unveiling of our new 95 per cent LTV residential products, including a cashback mortgage, this is further evidence of our dedication to helping everyone fulfil their property aims, whether first-time buyers or portfolio landlords.”

Alongside the limited company change, the Nottingham has also introduced a two-year discount product, tracking at 3.16 per cent below its variable mortgage rate. As a result it has a starting rate of 2.58 per cent, and comes with no arrangement fees or early repayment charges.

The mutual has also trimmed the rate of its fee-free 95 per cent LTV five-year fixed rate from 2.95 per cent to 2.93 per cent.