N&P cuts rates on 85% LTV deals
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Norwich and Peterborough Building Society is reducing rates on its range of 85% LTV mortgages by up to 0.4%.
The lender claims its two and three-year fixed rate deals are now the cheapest on the market.
Its two-year fix at 85% LTV now comes with a rate of 3.95%, reduced from 3.99%, and has a product fee of £995.
Meanwhile its three-year fix at 85% LTV has a rate of 4.38%, down from 4.58%, with a product fee of £995.
Norwich and Peterborough’s five-year fixed rate deals at 85% LTV, with and without incentives, have been reduced by 0.4% to 5.24% and 4.98% respectively.
Richard Barker, mortgage manager at Norwich and Peterborough, says: “We continually look to offer a good deal for our members, and these changes mean that Norwich and Peterborough is now offering the lowest two and three-year fixed rate mortgages currently available for those with a 15% deposit, making it particularly helpful to first-time buyers.”
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