The Nottingham Building Society has launched four new residential fixed rate mortgage products.

Rates on three residential products have been reduced:

• Two-year fixed rate, 2.79% (was 2.99%), maximum 80% LTV
• Five-year fixed rate, 3.44% (was 3.69%), maximum 80% LTV
• Five-year fixed rate, 3.09% (was 3.29), maximum 70% LTV

A new two-year, 2.49% fixed rate product with a maximum 70% LTV has also been introduced.

These products are available for purchase and re-mortgage.

There is a £199 upfront booking fee which is non-refundable and there is a £800 arrangement fee which is added to the loan on completion.

There is also a free basic valuation for both purchase and re-mortgage applications and free legals cost for re-mortgage conveyancing (terms apply).

These products are available via The Nottingham’s branch network, directly by phone or through selected intermediaries.

“After a successful January, these additions show yet further reductions for two and five year fixed rates at 70% and 80% LTV,” said Martyn Bell, mortgage product manager at The Nottingham.

“All  come with a free valuation for both purchase and re-mortgages, whilst free legals also apply to re-mortgages to keep set-up costs down.

“The new products have been priced competitively to support a growing demand from both existing homeowners and first-time buyers as the housing market picks up. As a top 10 building society (and estate agency) The Nottingham lends up to 95% LTV to FTBs in its East Midlands heartland through its branches and directly by phone.

“In addition it lends up to 90% LTV nationally throughout England and Wales through selected mortgage brokers and a dedicated telephone team. This service also extends to a range of competitive buy-to-let products for property investors.”