The Nottingham is cutting rates by up to 45 basis on residential two and five-year fixed rates following previous reductions to these products in August.

The biggest cut has been to its 90% LTV five-year fix at 3% which has been reduced to 2.55% with a £999 fee.

Nottingham is also cutting the following five-year fixes:

• 95% LTV five-year fixed cut by 0.29 percentage points from 3.49% to 3.2%
• 90% LTV – now 2.85%, was 3.20%. No fees.

The lender is also cutting these two-year fixes:

• 85% LTV – now 2.00%, was 2.25%. No fees.
• 90% LTV – now 2.35%, from 2.75%. No fees. 
• The Nottingham has also introduced a new product – a 90% LTV two-year fixed at 2.05% with a £999 fee.

The reductions follow cuts to the lender’s buy-to-let range last week.

All of the reduced products, which are available for purchase or remortgage, include a free basic valuation and free standard legal fees for remortgages.

Nottingham head of intermediary sales Nikki Warren-Dean says: “Whether people are looking to purchase or remortgage, these latest rate reductions offer competitively priced choice.

“Nothing stays the same for long in this highly competitive marketplace. When it comes to our ongoing repricing, or the addition of new products, we are committed to our reinvention being achieved by staying close to the market and listening to broker feedback about what their clients are looking for.”