"We understand and appreciate the value of advice to new and existing customers and all of the work this involves"
Nottingham Building Society has announced a series of product enhancements, including increased procuration fees and the launch of new residential products.
The Society has increased the procuration fee to 0.30% on all residential retention products.
In addition, it has introduced new residential products and reduced rates on its two-year residential range.
Two-year fixed rates have reduced by up to 0.23% and new 75% and 85% LTV products have launched with no fees.
As part of the changes, all end dates on two-year products have moved to the 31st December.
Alison Pallett, sales director at Nottingham Building Society, commented: “In the last six months, we have been making significant enhancements to our new business criteria, and there are more to come! In the meantime, we have taken the decision to enhance the procuration fee we pay on our standard residential product transfers, with immediate effect.
“We understand and appreciate the value of advice to new and existing customers and all of the work this involves; we hope this increase sends out a strong message and demonstrates our continued support to our intermediary partners who work tirelessly to do the right thing. The changes are also further evidence of our strategy of making home buying more accessible for those borrowers who have historically struggled to secure mainstream mortgages.”
