New cashback options and LTI improvements

We have launched new cashback options and improves the LTI for customers earning over £85k

Nottingham Building Society, the mortgages and savings mutual, has announced a new package of product enhancements across its residential mortgage range, as it continues to respond to affordability pressures and support the evolving needs of borrowers and brokers. 

The changes include rate reductions of up to 17bps across select residential products, including within its Foreign National and Retirement Interest-Only (RIO) ranges, alongside a suite of new £1,000 cashback options on 90% and 95% LTV products to support deposit-stretched buyers.

As part of its continued evolution into a specialist lending mutual, the Society has also introduced: 

  • An LTI extension to 5.5x across purchase and remortgage for applicants earning over £85,000 
  • Stress rate reductions on all two-year fixed residential products 

These enhancements are designed to offer increased flexibility and practical support to a broader range of borrowers, including first-time buyers, older borrowers, and those with complex financial situations. 

They also represent the latest step by Nottingham Building Society in responding to what brokers are calling for.  

The Society’s recent mid-year broker survey highlighted a clear call for targeted innovation and responsiveness from lenders. While 83% of brokers say they feel more optimistic about the mortgage sector than six months ago, they also stated: 

  • 74% believe mainstream lenders are not moving fast enough to meet borrowers’ evolving needs
  • 61% say lenders must prioritise product innovation to support a wider range of financial circumstances
  • Affordability remains a central challenge, with 27% of brokers seeing an increase in buyers struggling post-fixed term, and 22% observing that clients, particularly with non-traditional career paths, are finding it harder to prove affordability 

The Society said these changes are directly informed by broker feedback and aligned with its commitment to delivering lending that meets the real-world needs of today’s borrowers. 

Matt Kingston, Sales Director at Nottingham Building Society, said: “Affordability remains one of the most pressing issues facing the mortgage market and it’s our job to respond with solutions that help more people secure and keep their home. 

“These latest changes are part of our continued drive to support brokers and borrowers with flexible products that reflect real life, whether that’s cashback to ease upfront costs or extended LTIs for those on modest incomes. 

“We’re listening closely to what brokers are telling us and evolving our lending approach to match. We’re proud to be a mutual that’s stepping up where it matters most.” 

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