N&P launches five-year fixed mortgage

Wednesday, 08 September 2010 12:00

A new fixed-rate mortgage has been described as offering one of the best deals available to those exploring longer-term options.

The product from Norwich and Peterborough Building Society (N&P) carries a rate of 4.49 per cent, which is fixed for five years, at a maximum loan-to-value of 80 per cent.

Head of marketing at the company Ewan Edwards explained the introduction comes after the three-year range was expanded at the end of last month.

"The new product . will be one of the lowest longer-term fixed rates available in the mortgage market overall," he added.

A product fee of £995 applies, while customers will pay valuation fees.

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