N&P slashes mortgage rates

Norwich and Peterborough N&P has cut its mortgage rates in order to make moving home more affordable for its customers.

The firm has reduced the interest rate on its 85 per cent loan-to-value LTV fixed mortgages by 0.3 per cent.

Richard Barker, mortgage manager at N&P, said: "This reduction in the interest rates across our fixed-rate mortgage range is very good news for first-time buyers, those looking to re-mortgage or move to their next home."

These cheap mortgage deals mean customers can save £2,200 over the course of a £150,000 mortgage compared to the firm's previous rates.

With the Bank Base Rate expected to increase in the near future, accessing the best fixed-rate mortgages has been recommended by a number of financial experts.

Leeds Building Society recently reduced the interest rate on its two-year fixed mortgage by 0.5 per cent, meaning that the deal now offers competitive interest of 3.14 per cent.
 

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2011-08-12 13:06:08 © Moneyextra.com