The Nottingham has repriced a trio of 65% and 75% loan-to-value (LTV) products, as well as confirmed criteria enhancements.
Its 5-year fixed 75% loan-to-value (LTV) mortgage with a £999 fee is available at a rate of 3.10% (was 3.40%). A product fixed for the same period – and also at 75% LTV – but with no fees has been cut to 3.40% (from 3.70%).
The Nottingham’s fee-free 5-year fixed 65% LTV limited company buy-to-let (BTL) offering is now priced at 3.25%, down from 3.40%.
It has also made a number of criteria changes, which apply to all buy-to-let, including limited company, the changes are the maximum loan size increased to £750,000 (from £500,000). This can be on interest-only.
And the maximum number of bedrooms in property being purchased increased to five (was four) and the minimum landlord experience required for portfolio landlords has decreased to 24 months (from 36).
Nikki Warren-Dean (pictured), head of intermediary sales at The Nottingham, said: “As we’ve said when making rate cuts on a number of occasions over the last couple of months, having a flexible and competitively priced product range is very important.
“However, lending criteria is also important too. We pride ourselves on being #BuiltAroundBrokers and are pleased to say that these extremely positive criteria changes come partly as a result of their feedback – further evidence of great working relationships between us as a lender and the broker community.”