The new cheaper 2 year and 3 year fixed rate mortgages, which are the lowest 85% LTV deals currently on the market, will be available from today, Friday 22nd July 2011.
N&P's 5 year fixed-rate deals, with and without incentives, have been reduced by 0.4% to 5.24% and 4.98% respectively.
Richard Barker, mortgage manager at N&P, said:
"This reduction in the interest rates across the range of our fixed rate mortgages is very good news for those looking to move home, or re-mortgage."
"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."
New 2 year fixed rate without incentives
- 3.95% fixed for 2 years reduced from 3.99%
- Maximum 85% LTV
- £995 product fee
- Valuation fee paid by customer
- Early repayment charges of 3% in 2 years
- 10% penalty-free capital repayment per annum facility (subject to £10,000 cap)
New 3 year fixed rate without incentives
- 4.38% fixed for 3 years reduced from 4.58%
- Maximum 85% LTV
- £995 product fee
- Valuation fee paid by customer
- Early repayment charges of 3% in 3 years
- 10% penalty-free capital repayment per annum facility (subject to £10,000 cap)
