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Norwich & Peterborough launches its lowest-ever 5-year fix

Direct-only Norwich & Peterborough Building Society has launched its lowest-ever five-year fixed rate mortgage at 2.28 per cent.

It has a £1,295 fee and is available to borrowers with a 35 per cent deposit.

N&P mortgages manager Richard Barker says: “Our priority is to help people to buy the home they want and we are proud to offer our lowest ever five-year fixed rate at 2.28 per cent.

“This new mortgage is part of Norwich & Peterborough’s wide range which aims to help all types of borrowers, including those with larger or smaller deposits, first time buyers and those who want to remortgage or buy a new property.”


Nationwide U-turn on self-employed

Nationwide has done a U-turn on its unpopular stance on SA302s and now no longer requires a covering letter from HMRC for self-employed income verification. Lenders have increasingly started to use the self-assessment tax calculation, or SA302 form, to verify income for self-employed borrowers. While paper copies are still available from HMRC, in January, the […]


Bank of Ireland extends distribution with Openwork ARs

Bank of Ireland has begun distributing its products through Openwork as the lender continues its roll-out into the broker market. The lender re-entered the broker market in under its own brand December, first distributing through LSL estate agency subsidiaries Reeds Rains, Your Move and Embrace Mortgage Services before opening up to First Complete ARs last […]


Analysis: Mixed messages get in way of lending

Recent decisions by a growing number of lenders to introduce strict income multiple caps seem odd. It is as if the affordability raison d’être of the MMR is being either ignored or regarded as insufficient for lenders. To be fair, lenders are walking the path between two regulators – the FCA and FPC – and some […]


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