The Nottingham has made rate reductions across its 75% LTV buy-to-let range.
It has moved to cut buy-to-let mortgage prices having recently reduced rates by up to 21bps on its two and five-year fixed residential products.
The mutual says the new range 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% LTV buy-to-let product changes in full:
- Two-year fixed with £999 fees (£299 upfront), now 1.55% (was 1.79%)
- Five-year fixed with £1,999 fees (£299 upfront), 1.78% (from 1.91%)
- Five-year fixed with £99 upfront fee (reduced from £299), now 2.00% (was 2.19%)
- Two-year discount with £99 fee (£0 upfront), 1.65% (from 1.92%) representing a 4.89% discount on the variable mortgage rate of 6.54%
Nikki Warren-Dean (pictured), the Nottingham’s head of intermediary sales, 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.”
