The Nottingham returns to 80% LTVs and resumes physical valuations

Jessica Bird

May 22, 2020

Nikki Warren-Dean The Nottingham

Nottingham Building Society (the Nottingham) is relaunching 80% loan-to-value (LTV) mortgages within its residential range, and has resumed physical valuations. 

The products are available for purchases and remortgages, and include a free valuation and free standard legal costs on remortgage.

They also include tiered early repayment charges (ERCs), which the building society first introduced when it unveiled its 10-year fixed-rate residential product at the end of April.

2-year fixed products at 80% LTV, with ERCs of 2% in year one and 1% in year two, include a 1.54% fixed rate until 1 August 2022, with £999 in fees, and a 1.86% fixed rate until the same date, with no fees.

5-year fixed products at 80% LTV, with ERCs of 5% in year one, and 1% in year five, include 1.85%, fixed until 1 September 2025 with £999 fees, and 2.00% fixed until the same date, with no fees.

The Nottingham is also looking to raise LTVs on buy-to-let (BTL) products as soon as possible.

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “This is the latest step in our phased return to adding lower deposit products to our portfolio.

“Re-introducing 80% LTV mortgages is significant in getting back to where we want to be.

“We are also pleased to confirm that physical valuations also resumed last week.”

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