It has also cut rates on its 2-year fixed 75% LTV limited company buy-to-let offerings.

The building society’s £999 fee version has been lowered to 2.90% (was 3.00%) and its fee-free product is now 3.15% (from 3.40%).

Nikki Warren-Dean, head of intermediary sales at The Nottingham, says: “As part of our ongoing reinvention of our mortgage products we continue to keep a keen eye on the marketplace so we can offer choice via a range of competitive products.

“These rate reductions show we are committed, as a mutual building society, to helping put roofs over heads – be that first-time buyers or people with smaller deposits, or those whose situations mean renting is the right option for them.”