It is available from January 25 up to 75% loan-to-value with a fee of £295. Borrowers will also receive a free valuation and either free legals or a £200 cashback option.
N&P product manager Richard Barker says: “We are delighted to launch this new product and it is one we are confident will be well received in the market. The current swap rates have allowed us to look at our mortgage provision and offer this excellent product.
“We know that this competitive rate will be welcome news for those who wish to fix for a longer period of time giving them the certainty of what their monthly payments will be for the duration of their loan.”