Nottingham Building Society has cut stress rates across its BTL product range.
With immediate effect, BTL stress rates have been cut by 30bps with the lowest now 5.70%.
The building society has also made a similar cut on its residential products.
There, stress rates have been cut by 15bps with the lowest now 6.20%.
Matt Kingston, sales director at Nottingham Building Society, said these changes have been made to help borrowers not be held back by “restrictive” affordability tests.
"These changes reflect both shifts in the interest rate environment and our own commitment to supporting a broader range of customers, including foreign nationals on a visa, self-employed workers, and those who may not fit the rigid, automated approach of some other lenders,” added Matt.
“[This] means making sure as many people as possible have access to fair, flexible mortgage solutions.”
