N&P reduces fixed rates

Norwich and Peterborough says it is reducing rates on its UK and Spanish fixed rate mortgages, with immediate effect.

Fixed rate schemes over two years will be reduced from 4.78% to 4.68% (maximum 90% LTV and 699 reservation fee), from 4.98% to 4.84% (maximum 90% LTV and 385 reservation fee) and from 5.34% to 5.24% (maximum 90% LTV, free valuation, $475 reservation fee and free legal service or 200 cashback for remortgages).

Fixed rate schemes over three years will be reduced from 4.98% to 4.88% (maximum 90% LTV and 385 reservation fee), and from 5.34% to 5.24% (maximum 90% LTV, free valuation, 475 reservation fee and free legal service or 200 cashback for remortgages.)

Fixed rate schemes over five years are reduced from 4.98% to 4.84% (maximum 90% LTV and 385 reservation fee) and from 5.08% to 4.98% (maximum 90% LTV, 475 reservation fee, and free legal service or 200 cashback for remortgages.)

Fixed rate schemes over 10 years will be reduced from 4.98% to 4.83% (max 90% LTV and 399 reservation fee), and from 5.14% to 4.98% (max 90% LTV, free valuation, 475 reservation fee and free legal service or 200 cashback for remortgages.)

For mortgages for properties in Spain, two year fixed rate will be reduced from 3.84% .59% (250 reservation fee).

For mortgages for properties In Gibraltar, two year fixed rate will be reduced from 5.38% to 5.24% (385 reservation fee), and five year fixed rate will be reduced from 5.38% to 5.24% (385 reservation fee).