The Nottingham has expanded distribution of a new five-year fixed rate remortgage product.

It is offering an 80% LTV remortgage-only product fixed at 2.25% for five years, which has now been rolled out to all brokers.

There are no booking or arrangement fees and it comes with a free valuation and standard remortgage legal fees paid.

The Nottingham is currently working to an SLA of looking at all new cases received from brokers within one working day.

Nikki Warren-Dean, the Nottingham’s head of intermediary sales, said: “Brokers are receiving many enquiries about remortgages, especially with so much uncertainty around. That is leading to many people seeing remortgaging as a sensible and stable option for them in the current climate.

“We are following our recent return to 90% LTVs for those with smaller deposits with a mortgage that could be an option for those looking to stay where they are but on a more affordable deal for them over the next five years.

“Our ongoing aim is to have products to suit all circumstances, but with a high number of people looking to remortgage and wait and see what the housing market does over the coming years we have reacted by introducing this product.”