Product changes include rate reductions and introduction of a new LTV tier
The Nottingham Building Society has reduced rates and made changes to its mortgage products for foreign nationals, returning expats, and residential borrowers.
The latest changes include up to 10 basis point rate reductions on five-year fixed foreign national and returning expat mortgages, the introduction of 85% loan-to-value (LTV) tier rates for foreign nationals, and up to 23 basis point rate reductions on residential acquisition products.
The adjustments follow the society’s recent initiative to help more foreign nationals achieve home ownership by launching a mortgage product specifically tailored for them.
“The decision to reduce rates reflects our ongoing dedication to meet the evolving needs of brokers and borrowers alike,” said Alison Pallett (pictured), sales director at Nottingham Building Society. “We understand the diverse challenges faced by our customers, whether they are returning expats looking to establish a home back in the UK, skilled workers from abroad seeking to build a career and invest in their future, or UK residents navigating the complex home ownership journey.
“We recognise this is a fast-moving market, and these tweaks reflect our desire to ensure that brokers and borrowers continue to have a range of options to secure the mortgages they need. We remain committed to further developing our portfolio of products as the market continues to evolve.”
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