Mortgages

The Nottingham re-introduces 80% LTV mortgages

Rozi Jones
|
22nd May 2020
Nottingham

The Nottingham is bringing 80% LTV mortgages back to its residential range, and can confirm that physical property valuations have also resumed.

The products are available for purchases and remortgages, and include a free valuation and free standard legal costs on remortgage. They also include the new tiered early repayment charges the building society first introduced when it unveiled its new 10-year fixed rate residential product at the end of April.

Its new two-year fixed products at 80% LTV, with ERCs at 2% in year one and 1% in year two, are 1.54% with £999 fees and 1.86% with no fees. Both products are fixed until 1st August 2022.

The new five-year fixes, also with 80% but 5% ERC in year one descending to 1% in year five, are 1.85% with £999 fees and 2.00% with no fees. Both products are fixed until 1st September 2025.

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said:

“This is the latest step in our phased return to adding lower deposit products to our portfolio. Re-introducing 80% LTV mortgages is significant in getting back to where we want to be.

“We are also pleased to confirm that physical valuations also resumed last week.”

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