Norwich & Peterborough, part of the Yorkshire Building Society, has reduced the rates on a range of its five- and three-year fixed mortgages for customers with deposits of 10, 20 and 25 per cent.
Rates have been cut by up to 0.30 percentage points in an aim to enable customers to take advantage of low interest rates at the moment, the building society says.
“We think the reductions across these popular loan-to-value bands on the medium fixed terms will appeal to borrowers who want take advantage of today’s competitive rates, with the security of knowing exactly what their monthly mortgage repayments will be for the next three or five years,” Richard Barker, mortgage product manager at Norwich & Peterborough, commented.
Highlight in the five-year range is a 2.64 per cent fixed rate for customers with a 25 per cent deposit. It comes with a product fee of £1,295.
A new three-year 2.49 per cent fixed rate mortgage has been launched for customers with a deposit of 20 per cent. The product fee is the same.
Norwich & Peterborough is also introducing a five-year 3.84 per cent fix and a three-year 3.44 per cent fix for customers with 10 per cent deposits. The product fee on both is £1,295.
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