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N&P drops mortgage rates and launches two-year fix

Robyn Hall

November 16, 2010

N&P is reducing rates on its existing 85% Loan To Value 5-year fixed rate products from 4.99% to 4.88%, and from 5.24% to 5.13%. N&P is also introducing a 2-year fixed rate mortgage at 85% LTV at 4.15%. All of these mortgage rates are available from Wednesday 17th November 2010.

Richard Barker, product manager at N&P, said: “The reduction in the 5-year fixed rate mortgages, and the introduction of the 2-year fixed rate mortgage, is good news for those looking to buy their first home, or move home as we approach the start of 2011.

“We are continually looking to offer a good deal, and these changes mean that N&P is offering some of the lowest rates currently available at 85% LTV. We hope that these offers, along with our ‘Best Buy’ 2-year discounted mortgage at 2.59%, will appeal to people looking to buy their own home or to remortgage, and who want a competitive deal.”

Main details

4.99% 5 year fixed rate without incentives

• Rate reduced from 4.99% to 4.88%

• Maximum 85% LTV

• £995 product fee

• Valuation fee paid by customer

• Early repayment charges of 5/5/5/4/3% in 5 years

• 10% penalty-free capital repayment per annum facility (subject to £10,000 cap)

5.24% 5 year fixed rate with incentives

• Rate reduced from 5.24% to 5.13%

• Maximum 85% LTV

• £995 product fee

• Free valuation

• Free legal fees or £200 cashback

• Early repayment charges of 5/5/5/4/3% in 5 years

• 10% penalty-free capital repayment per annum facility (subject to £10,000 cap)

New 2 year fixed rate without incentives

• 4.15% fixed for 2 years

• Maximum 85% LTV

• £995 product fee

• Valuation fee paid by customer

• Early repayment charges of 3% in 2 years

• 10% penalty-free capital repayment per annum facility (subject to £10,000 cap)


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