Nottingham adds new RIO products

Nottingham Building Society has launched two new retirement interest only mortgage products.

The offerings are a 40 per cent LTV five-year fix at 3.55 per cent, and a 40 per cent LTV two-year fix at 3.20 per cent.

Both products require an applicant age of 55, include a £995 fee, and are for purchase or remortgage.

In addition, the lender has also removed the product fee from its existing 40 per cent LTV two-year discount offering at 2.99 per cent.

Nottingham Building Society head of intermediary sales Nikki Warren-Dean comments: “We have extended our range of RIO mortgages to give further choice for people in, or heading towards, retirement.

“The introduction of our latest RIO products further highlights our desire to be there for our customer’s mortgage needs whether it is their first or last house.”

This comes after Nottingham Building Society entered the RIO mortgage market earlier this year – with the release of three RIO products.

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