N&P announces mortgage interest rate reduction

08-Mar-2007

The Norwich and Peterborough Building Society (N&P) has announced an interest rate reduction on two ten-year fixed-rate mortgage products, which may interest first time buyers concerned about possible interest rate rises.

Available at interest rates of 5.31 per cent and 5.38 per cent respectively, both mortgages are available to first time buyers and repeat homebuyers and offer a maximum loan-to-value (LTV) of up to 90 per cent, in addition to offering flexible features.

To find out more about these mortgages and other mortgages for first time buyers, click here.

"Following recent movements in money market rates, we're pleased to be able to reduce the rates on two of our ten-year fixes and to offer our customers new rates," said Richard Barker, product manager for N&P.

"Anyone looking to fix their repayments for a longer period should pop in to one of our branches or call our contact centre," he added.

N&P also offers mortgages with interest rates of 5.48 per cent and 5.28 per cent, fixed over periods of 15 and 20 years respectively.

Both mortgages also offer a LTV of up to 90 per cent.

N&P offers a number of financial products and services, including current accounts and credit cards.

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