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N&P to reduce fixed rates

From Monday October 17, Norwich and Peterborough will be launching two new tracker mortgages and making a number of improvements to its existing mortgage product range available in the UK and Gibraltar.

Most of N&Ps fixed rates will be reduced by between 0.10% and 0.20%. However, some rates, including some two-year and five-year fixed rates, will reduce by a greater amount.

N&P is also launching two base rate tracker mortgages. The first is a base rate tracker with a rate of BBR +0.39% (current payable rate of 4.89%) for the term of the mortgage. The maximum LTV is 95%, and there is a 599 reservation fee. There are no redemption charges and the minimum loan size is 75,000.

The second new tracker product features a rate of BBR -0.25% for the first two years followed by a competitive BBR +0.85% for the remainder of the term. The maximum LTV is 90%, and there is a 599 reservation charge. There are redemption charges of 3% in five years, and the minimum loan size is 75,000.


You can create compliant promotions that aren’t dull

From Stuart Wilson I am writing in response to Lee Martin’s Star Letter in last week’s Mortgage Strategy (October 3). He has highlighted a problem faced by many brokers we speak to. I don’t know if: Martin has an over-zealous compliance officer reviewing his financial promotions (possible, there’s more than a few of those out […]

Bethnal Green joins Lloyds TSB pilot

The branch of Lloyds TSB in London’s Bethnal Green has started offering Islamic banking services to the area’s Muslim community. The branch is the latest to join Lloyds TSB’s Islamic Financial Services pilot, which now covers 17 locations. Bethnal Green Lloyds TSB will now offer a current account and a home finance scheme designed to […]

Two-year remortgage deal from the Yorkshire

The Yorkshire has launched a mortgage for borrowers who are moving their loan, but not moving home.The new two-year mortgage, which is only available for people remortgaging, has a fixed interest rate of 4.39% and offers a free remortgage legal service and a refund of the property valuation fee. In addition, as with all Yorkshire […]

Landlord associations join forces

The National Landlords Association and the Dorset Residential Landlords Association have joined together in another step towards providing a coherent and more unified voice for the private-rented sector. The DRLA Committee has recommended to its members that their association be remodelled as NLA (Dorset) and this has now been passed at a general meeting. David […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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