The Nottingham cuts limited company buy-to-lets

Nottingham Building Society has reduced limited company buy-to-let products for those with a 25% and 35% deposit.

The society’s 5-year fixed rate to 75% LTV is available at 3.10%, reduced from 3.40%, with £999 in fees. There is also a no fee variant at 3.40%.

Menawhile Nottingham’s 65% LTV 5-year fix is being offered at a rate of 3.25%, down from 3.40%, with no fees.

Nikki Warren-Dean

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “As we’ve said when making rate cuts on a number of occasions over the last couple of months, having a flexible and competitively priced product range is very important.

“However, lending criteria is also important too. We pride ourselves on being #BuiltAroundBrokers and are pleased to say that these extremely positive criteria changes come partly as a result of their feedback – further evidence of great working relationships between us as a lender and the broker community.”

At the same time The Nottingham has upped the maximum loan size from £500,000 to £750,000.

Meanwhile the maximum number of bedrooms permitted in the property being purchased has been raised from four to five

The Nottingham is clearly loosening criteria to attract more company landlords, as the minimum landlord experience required for portfolio landlords has been changed from 36 to 24 months.

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