N&P cuts its mortgage rates

Homeowners shopping around for cheap mortgages will be pleased to hear that Norwich and Peterborough N&P Building Society has just slashed its fixed rate deals.

The financial firm is cutting 0.4 per cent off the mortgage rates on its range of 85 per cent loan to value LTV deals.

It claims that the new two and three year fixed cheap mortgages are the lowest 85 per cent LTV deals on the market.

In addition, the lender has also cut rates on its five year fixed-rate deals, with and without incentives, to bring them down to 5.24 per cent and 4.98 per cent respectively.

"We continually look to offer a good deal for our members, and these changes mean that N&P is now offering the lowest two and three year fixed rate mortgages currently available for those with a 15 per cent deposit, making it particularly helpful to first time buyers," said Richard Barker, mortgage manager at the firm.

Meanwhile, Yorkshire Building Society has claimed its five year fixed rate mortgage is a "best buy".

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2011-07-22 13:03:25 © Moneyextra.com