The Nottingham has reduced a selection of of residential mortgage rates.

The building society has lowered rates by up to 40bps.

The largest reduction is on its fee-free 90% LTV five-year fixed product, which is now 3.20% from 3.60%.

Another 90% LTV five-year fixed, that comes with £199 upfront fees (£999 in total), has been repriced at 3.00% (from 3.30%).

Meanwhile, at 95% LTV, the Nottingham’s fee-free five-year fixed option is now 3.70% (from 3.85%).

In addition, there is a rate reduction of 30bps on its fee-free 80% LTV two year-fixed product, to 1.95% from 2.25%.

The building society’s large loan offering – minimum loan size £350k – has been reduced to 1.65% from 1.85% and has a £999 fee (£199 upfront).

All the above are available for purchase and remortgage.

Finally, the Nottingham has introduced a new five-year fixed remortgage-only product. It is priced at 2.20% with no fees.

Nikki Warren-Dean (pictured), the Nottingham’s head of intermediary sales, said: “It’s been an extremely busy time for all of our teams involved across the mortgage mix but a really positive one as we continue to develop an evolving range of products.

“These latest rate reductions put us in a very competitive position and, most importantly of all, cater for people looking to step onto or along the property ladder – or even stay where they are but on a better priced deal – whatever their needs.”