Nottingham Building Society has announced a series of changes, including increased procuration fees and the launch of new residential products.

The mutual has increased the procuration fee to 0.30% on all residential retention products. In addition, it has introduced new residential products and reduced rates on its two-year residential range by up to 0.23 percentage points.

It has also added 75% and 85% loan to value (LTV) products with no fees.

Alison Pallett (pictured), sales director at Nottingham Building Society, said: “In the last six months, we have been making significant enhancements to our new business criteria, and there are more to come. In the meantime, we have taken the decision to enhance the procuration fee we pay on our standard residential product transfers, with immediate effect.

“We understand and appreciate the value of advice to new and existing customers and all of the work this involves; we hope this increase sends out a strong message and demonstrates our continued support to our intermediary partners who work tirelessly to do the right thing. The changes are also further evidence of our strategy of making home buying more accessible for those borrowers who have historically struggled to secure mainstream mortgages.”