Nottingham Building Society Launches New Residential Fixed Rate Mortgages with Lower Rates and Flexible Terms

Introduction: Exciting Product Update from Nottingham Building Society

Nottingham Building Society, a well-established UK mortgage lender, is launching a refreshed range of residential fixed-rate mortgage products on 22 August.

This update introduces attractive lower-rate options, paired with higher up-front fees, targeting homebuyers and remortgagors seeking flexibility and competitive rates. Here’s what you need to know about their new offering.

New Residential Fixed Rate Mortgage Highlights

• Launch Date: 22 August, 9am
• Product Range: Six new residential fixed-rate products
• Fees: £1,499 or £1,999 arrangement fees
• Interest Rates: From 4.71% (competitive rate with a higher fee structure)
• Loan-to-Value (LTV): Options available from 60% up to 80% LTV
• Product Terms:
  • 2-year fixed rates: Until 31 October 2027
  • 5-year fixed rates: Until 31 October 2030

How Do These Updates Affect You?

With the introduction of lower-rate, higher-fee products, Nottingham is providing greater choice for borrowers who can accommodate a larger up-front cost in exchange for a better ongoing rate. This structure is typically well-suited to:

• Homebuyers with larger deposits (seeking lower monthly payments)
• Remortgage clients looking to minimise their interest rate over the mortgage term
• Repeat movers or property upgraders who can absorb fees in return for reduced long-term costs

Eligibility Criteria and Who Will Benefit

• Applicants must meet Nottingham’s standard lending policy criteria, including credit checks and proof of affordability.
• Products are available for both purchase and remortgage on residential properties (not buy-to-let).
• Suited to borrowers requiring up to 80% LTV—ideal for those with at least a 20% deposit.
• First-time buyers and home movers within this LTV range can benefit from the competitive fixed rates.

Special Features and Flexibility

• Flexible Fee Choices: Pick between a lower fee with a slightly higher rate, or pay more up front for a better ongoing rate.
• Fixed Payment Certainty: Secure monthly repayments until October 2027 or October 2030, depending on product choice.
• Accessible up to 80% LTV: Suitable for a wide range of home purchase and remortgage scenarios.

Why Consider Nottingham Building Society?

• Experienced UK lender with a history of supporting homeowners across market cycles
• Transparent product range offering fee and rate choices
• Focused on flexibility for both homebuyers and remortgagors, especially those able to leverage higher up-front fees for long-term savings

Conclusion & Next Steps: Get Expert Advice

Nottingham Building Society’s new fixed-rate mortgage options offer attractive rates for those able to pay a higher arrangement fee, paired with strong product flexibility and terms designed to support both home movers and remortgage applicants. For tailored guidance on which mortgage fits your circumstances—and support with the application process—contact our expert team today.

Interested to know if you qualify, or want to compare against other best mortgage rates? Get in touch now for a free, no-obligation chat with our advisers!

FAQs: Nottingham Building Society’s New Residential Mortgage Update

• Who qualifies for these new Nottingham Building Society mortgage products?
  Applicants purchasing or remortgaging a residential property, meeting credit and affordability criteria, with up to 80% loan-to-value.
• How do the rate and fee options affect my monthly repayments?
  Lower rates (with higher fees) typically result in lower monthly repayments but higher up-front costs. Our advisers can illustrate the difference for your case.
• Am I eligible if I’m a first-time buyer or need a remortgage?
  Yes, as long as you fit within 60%-80% LTV. Both first-time buyers and remortgage clients are eligible.
• How do I apply for these new products?
  Simply contact our team for a personalised assessment and guidance through the application. We handle the paperwork and compare all options for you.
• Why might I pay a higher fee for a lower mortgage rate?
  Paying a higher fee can make sense if you plan to stay in your property long-term, as it lowers your total interest cost over time.