Launch Pad: Mortgages: Nottingham

The products, most of which last for two years, range from 65 per cent loan-to-value to 95 per cent LTV.

The discounted deals include a two-year fixed-rate mortgage at 2.69 per cent, down from 2.99 per cent; and a first-time buyer mortgage at 95 per cent LTV for three years at 5.29 per cent, down from 5.49 per cent.

The new mortgage launched is set at 3.79 per cent with an 80 per cent LTV. The booking and arrangement fees are £199 and £300 respectively.

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Key features:

- No fees on the three-year FTB mortgage

- Five-year FTB mortgage available at 5.59%, £100 booking fee, £99 arrangement fee

- All other residential mortgages have £199 booking fee and £800 arrangement fee

- BTL deal at 75% LTV over two years with a rate of 3.69%

- BTL deal comes with £299 booking fee, £1200 arrangement fee

IFA VERDICT: Anthony Badaloo, principal of London-based Church Hill Finance

“This reflects an overall improving trend in the market. The fees are pretty reasonable compared to the competition and Nottingham has advantages as a mutual in terms of keeping its costs down. All the government funding is really starting to come through in the market, as we’re seeing rock-bottom mortgages, which haven’t been here before now.”