Nottingham Building Society is one of the few lenders who will consider Interest Only mortgages up to 80% LTV, providing the borrowers have a specific repayment vehicle. Any additional borrowing above 80% LTV would need to be on a repayment basis (part IO/part repayment acceptable). The maximum IO loan considered is £500,000. Acceptable repayment vehicles range from endowments, Stocks & Shares ISAs, pension lump sums and equity in investment property. Please refer to the lending criteria page on The Nottingham’s intermediary website www.thenottingham-intermediaries.com for specific information on acceptable repayment vehicles or call your Regional Development Manager whose details can be found on the contact page.
- Nottingham Building Society is one of a few lenders who will consider lending up to 90% LTV on New Build residential houses (80% LTV on New Build residential flats). The Nottingham offers a wide range of available products at 90% LTV, starting at a rate of 2.29% with very reasonable fees. A free basic mortgage valuation is available and providing the borrower has a 10% deposit themselves, The Nottingham do accept builder incentives, providing the valuer is comfortable with the agreed purchase price. Please refer to the lending criteria page on The Nottingham’s intermediary website thenottingham-intermediaries.com for further information or call your Regional Development Manager whose details can be found on the contact page.
- The Nottingham is one of a few lenders who will consider Let To Buy scenarios. They will convert a borrowers’ residential mortgage to a BTL mortgage and allow them to raise funds up to 75% LTV to fund a deposit on a new residential purchase. They will also consider lending on the new residential property up to 90% LTV, where the borrower wants to let out their current residential and is approaching their current lender for a consent to let. If you would like The Nottingham to consider both mortgages speak to your Regional Development Manager who’ll be happy to discuss the individual case circumstances. Please refer to the lending criteria page on The Nottingham’s intermediary website www.thenottingham-intermediaries.com for further information or call your Regional Development Manager whose details can be found on the contact page.
