The Nottingham returns to 90% LTV lending space

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The new deals will be available from today (20 January) and include a 3.70% no-fee product fixed for five years, as well as a 3.45% offering which is fixed for the same period (£999 arrangement fee).

The Nottingham said providing the option to borrow with a 10% deposit would be a boost to those who had been held back in fulfilling their property dreams due to the Covid-19 pandemic.

Nikki Warren-Dean, head of intermediary sales said: “We’ve been working very hard behind the scenes to be able to bring back 90% LTV mortgages.

“Buying property is never easy, and that has undoubtedly become more challenging due to the Covid-19 pandemic.

“We were always looking to return to this space and to help people with smaller deposits, however it was important to do so in a measured and responsible way.”

“We are delighted to be able to unveil products that could help make house moves or remortgages that in 2020 may have looked impossible, possible.”

The Nottingham has also introduced new products for those with bigger deposits, equity in their existing property or looking to stay where they are and benefit from a more affordable option by remortgaging.

At 80% LTV there are no-fee products at 2.30% and 2.60% for two and three years fixed respectively, and a 2.00% two-year fixed mortgage (£199 booking fee and £800 arrangement fee). For those with a 15% deposit, there is a 2.90% no-fee three-year fixed product available.

Where the preference is no Early Repayment Charges, a two-year discount mortgage is available at 2.20% (3.54% off the Society’s Variable Mortgage Rate) with a £199 booking fee.