N&P cuts rates on 85% LTV mortgages
Norwich and Peterborough Building Society (N&P) has announced it is to cut up to 0.3 per cent off the interest rates of many of its 85 per cent loan-to-value (LTV) fixed-rate mortgages.
The cuts, which make the company's two-year, three-year and five-year fixed-rate mortgages among the cheapest in the country, will come into force today.
With uncertainty surrounding what the new Bank of England base rate will be in the short term, mortgage manager at N&P Richard Barker believes the new rates provide security for home owners.
He said: "For those looking for a bit of certainty over the amount they will be paying each month, these new lower rates, could be the perfect opportunity to make the move they have been looking at."
The building society's new five-year and three-year fixed-rate mortgages have been cut by 0.3 per cent while the two-year fixed-rate 85 per cent LTV mortgage has been slashed by 0.16 per cent.
N&P also introduced two new 90 per cent LTV fixed-rate mortgages in May in another move to help out prospective home owners before any base rate increases.
Use the Myfinances.co.uk comparison tables to find the best deal on a new mortgage
- Tags:
- fee ,
- loan to vale ,
- ltv ,
- mortgage ,
- product ,
- product news ,
- rate
Comments
Newsletter sign up