Norwich & Peterborough expands best-buy mortgages

Norwich and Peterborough N&P has introduced two new best-buy discounted mortgage rates to its product range.

A new two-year discounted rate of 2.95 per cent is available 2.40 per cent discount off SVR up to a maximum loan to value LTV of 85 per cent with a £995 product fee.

The society is also offering a five-year discounted rate of 3.95 per cent for a maximum 80 per cent LTV with a product fee of £395 and early repayment charges of three per cent in the first five years.

Richard Barker, mortgage product manager at N&P, said: "The new products are both 'best in the market' at their respective LTV tiers, and support the Society's aim to increase its mortgage lending through the rest of the year and into 2011."

The Society is also reducing rates on its additional borrowing range, for customers who would like to borrow more on their existing N&P mortgage, as they look to improve their home rather than move.

N&P recently launched a new five-year fixed rate mortgage offering a competitive rate of 4.49 per cent for 80 per cent LTV.
 

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2010-10-05 12:38:52 © Moneyextra.com