N&P cuts mortgage rates and introduces new 2-yr fix

Norwich and Peterborough Building Society N&P is showing its commitment to providing those looking to buy their first home, remortgage or move home by cutting its mortgage rates and introducing a new product.

The Society is reducing mortgage rates on its existing 85 per cent loan to value LTV five-year fixed-rate products from 4.99 per cent to 4.88 per cent and from 5.24 per cent to 5.13 per cent.

Richard Barker, product manager at N&P, said that the reduction in rates is very good news for those looking to buy their first home, or move home as 2011 approaches.

N&P is also introducing a two-year fixed-rate mortgage at 85 per cent LTV at 4.15 per cent with a £995 product fee.

"We are continually looking to offer a good deal, and these changes mean that N&P is offering some of the lowest mortgage rates in the country available at 85 per cent LTV," Mr Barker added.

Norwich and Peterborough recently announced the addition of a best buy two-year discounted mortgage at a rate of 2.59 per cent.

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2010-11-18 13:16:13 © Moneyextra.com