The Nottingham Building Society has added a new product to its range of five-year fixed mortgages and cut rates.

The new product is at 95% loan to value (LTV) with a rate of 2.75%, no upfront or arrangement fees, a free basic valuation and free legal fees (standard) for remortgages.

The Nottingham’s other five-year fixed products have all seen interest rates reduced by up to 0.25 percentage points. They also include the free valuation and legal fees for remortgages.

Rates are as follows:

• 75% LTV at 1.70% with £800 arrangement fee
• 75% LTV at 1.85% with no fees
• 80% LTV at 1.85% with £199 booking fee and £800 arrangement fee
• 80% LTV at 2.00% with no fees
• 90% LTV at 2.20% with £199 booking fee and £800 arrangement fee
• 90% LTV at 2.40% with no fees

Nikki Warren-Dean, head of intermediary sales for the Nottingham for Intermediaries, said: “We know many people look to lock into mortgage or remortgage deals for a longer period than the traditional two or three years, so have launched a new range – including a 95% product with a rate of 2.75%.

“In addition to that we are really pleased to have been able to reduce rates across the rest of our five-year fixed rate range.”