The Nottingham refreshes its buy-to-let mortgages offering
The Nottingham Building Society has refreshed its buy-to-let mortgages offering with the introduction of six new fixed rate buy-to-let mortgages.
The mortgages, which come with a free basic property valuation and free legals*, include a five-year fixed 4.09% product up to 75% LTV with a £299 booking fee and £700 arrangement fee (was 4.14% with a £1,999 fee).
A two-year-fixed 3.09% mortgage up to 65% LTV, with just a £299 booking fee and £200 arrangement fee, is also available.
The Nottingham’s deputy treasurer Chris Gardner said: “The run-up to the General Election saw the UK markets weighed down by uncertainty as opinion polls put the two main parties neck and neck.
“With the uncertainty now lifted we are taking the opportunity to refresh our buy-to-let products. The range of fixed rate buy-to-let mortgages now includes a new, lower loan-to-value range, whilst the rate and fee on the existing five-year fixed at 75% LTV have been reduced.
“These will help borrowers who require budgeting certainty, as whilst the Government have pledged to fix the term of each parliament to five years, the Bank of England cannot offer the same commitment for bank rate.
“Whilst bank rate has remained unchanged at 0.5% for six years, the markets are currently pricing the first rise early next year.”
*All of the mortgages are available for purchases and remortgages. Customers can also benefit from a free basic property valuation (purchases and remortgages) and free legals (remortgages).
