New Cheaper Fixed Rate Mortgages From N&P

N&P has two new cheaper fixed rate mortgages available for up to 85% Loan to Value (LTV).

There is a new 2 year fixed rate mortgage at 3.99% and a 3 year fixed at 4.58%.

The mortgage interest rates have been cut by up to 0.3% which provides a saving of almost £1,500 over the course of a 3 year fixed rate deal for an interest only mortgage of £150,000, compared to the previous deal with a 4.88% interest rate.

Both products are available up to a maximum 85% LTV and have a £995 product fee with the valuation fee paid by the customer.

There’s a 10% penalty free capital repayment allowed each year, subject to a £10,000 cap. Otherwise early repayment charges apply.

Richard Barker, mortgage manager at N&P, commented: “We continually look to offer a good deal for our members, and these changes mean that N&P is now offering the lowest 2 and 3 year fixed rate mortgages currently available for those with a 15% deposit, making it particularly helpful to first time buyers.”

N&P is the UK’s 9th largest building society with over 40 branches.