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Nottingham Building Society expands Lending Criteria

Posted by Emma Spence on March 19, 2018


BuildLoan is delighted to announce new improved lending criteria from The Nottingham Building Society for self build.  Intermediaries can now access the following benefits for their clients:

  • Up to 80% on land purchase
  • Interest only now available for a maximum of 24 months
  • Approved title split a condition of the offer

The following construction methods are now acceptable:

  • Traditional with brick/stone walls
  • Structurally Insulated Panel Systems (SIPS)
  • Insulated Concrete Formwork (ICF)
  • Modern Steel Frame
  • Oak Frame
  • Modern Timber Frame

Properties can be clad in the following:

  • Traditional bricks or stone
  • Brick slips
  • Metal (zinc, copper, steel or aluminium)
  • Modern render system (cement, lime, acrylic or silicone)

Timber cladding is not acceptable.

The following roofs are acceptable:

  • Pitched slate or tiles
  • Thatched
  • Flat roofs up to 25% of roof area

Nottingham does not accept roofs where more than 25% of the area is flat or sedum (living green).

Nottingham Building Society currently offers two products including a 2 year discount product with a rate of 4.39% and a fixed rate product (until 01/05/2020) with a rate of 5.19%.  For more information on these products click here.

 

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