N&P launches 90% LTV deals
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Norwich and Peterborough Building Society is launching two new 90% LTV mortgages and increasing the maximum LTV it is prepared to lend on self-build and new-build houses from 75% to 80%.
The 90% LTV products are a two-year fix at 5.69% with a £995 product fee and a two-year discounted rate at 4.95% with a £995 product fee.
Richard Barker, product manager for mortgages at Norwich and Peterborough, says: “These changes will be a welcome boost for many prospective homeowners who might have struggled to raise a sufficient deposit to purchase or re-mortgage in the current environment.
“Our new 90% LTV mortgage discounted to 4.95% for two years might be perfect for those looking for lower repayments while they find their feet as a homeowner, while our two-year fix might suit those who want certainty over how much their monthly outlay will be, at a time when most commentators are expecting the Bank of England base rate to rise later this year.”
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