The Nottingham has today announced rate reductions across its 75 per cent LTV buy-to-let range.
It has moved to cut BTL mortgage prices having recently reduced rates by up to 21bps on its two and five-year fixed residential products.
The result is a new-look range that could appeal to first-time landlords, those aiming to increase their portfolio or landlords looking to remortgage. All products include a free basic valuation and free standard legal fees for remortgages.
The Nottingham’s 75 per cent LTV BTL product changes in full:
· Two-year fixed with £999 fees (£299 upfront), now 1.55 per cent (was 1.79 per cent)
· Five-year fixed with £1,999 fees (£299 upfront), 1.78 per cent (from 1.91 per cent)
· Five-year fixed with £99 upfront fee (reduced from £299), now 2.00 per cent (was 2.19 per cent)
· Two-year discount with £99 fee (£0 upfront), 1.65 per cent (from 1.92 per cent) representing a 4.89 per cent discount on the variable mortgage rate of 6.54 per cent
Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “After recently revamping our residential range we decided to take a close look at our landlord offering. We recognise that one size doesn’t always fit all when it comes to the right mortgage option, so are pleased to be able to announce a group of reduced rate products that we are confident offer choice and flexibility.”