New 10 Year Fixed Rate Mortgage From N&P
Published: 26 January 2012 By Peter Thompson Leave a Comment
Norwich and Peterborough Building Society (N&P) has launched its lowest ever ten year fixed rate mortgage, offering a solution for those wanting to manage their budget longer term.
The new mortgage product is available at a best buy rate of 3.99% up to 75% LTV with a fee of only £295.
Borrowers also receive a free valuation and free legal fees, for re-mortgages, or a £200 cashback option for purchase customers.
MoneyHighStreet comments: “This new longer term fixed rate mortgage will no doubt be welcomed by many consumers. It helps fill a weakness in the mortgage market and gives those looking to stay in their home for a longer term an option to consider to fix their mortgage rate accordingly.”
Product Manager for Norwich and Peterborough Building Society Richard Barker said; “We are delighted to launch this new product and it is one we are confident will be well received in the market.
“The current swap rates have allowed us to look at our mortgage provision and offer this excellent product. We know that this competitive rate will be welcome news for those who wish to fix for a longer period of time giving them the certainty of what their monthly payments will be for the duration of their loan.
“Since our merger with Yorkshire Building Society at the end of 2011 we have been working to increase the mortgage products that we provide and this is an example of the competitive rates that we will be offering throughout 2012.
“Additionally, we believe the low fee on the product alongside the valuation, legal and cashback options will be attractive to those trying to get on the property ladder together with those looking to remortgage.”
For those looking for a shorter term mortgage, Leeds Building Society has just launched a 2 year discount mortgage at 5.25% for up to 95% LTV. If you have a greater deposit and only need up to 90% LTV, the mortgage is available at 4.35%.
There’s also their existing 2 year discount rate at only 2.45% up to 75% LTV.
If you’re looking for a variable rate mortgage, Leeds have a 2 year deal at a current rate of 5.89%, available up to 85% LTV.
Kim Rebecchi, Leeds Building Society Sales and Marketing Director comments: ”We are also pleased to have launched versions of these products available up to 95% LTV on the fee paying options, and up to 90% LTV on the fees assisted options.
“The Society is also offering a free valuation up to £335, and free in-house legal services for standard remortgages, to those customers who require help with up front costs.”
Useful links:
Norwich and Peterborough Building Society website: www.nandp.co.uk
Leeds Building Society website – www.leedsbuildingsociety.co.uk
N&P merged with Yorkshire Building Society in November 2011.
The Yorkshire is the second largest building society in the UK. It has successfully merged with Barnsley Building Society, Chelsea Building Society, Norwich & Peterborough Building Society and acquired the Egg mortgage and savings book and the Egg brand.
Leeds Building Society is the UK’s 5th largest building society.
