Norwich & Peterborough Building Society has reduced the rate on its two-year fixed rate mortgage by 0.25%. As a result, it has held firmly onto its silver medal position in the Moneyfacts charts.
This two-year mortgage now has a highly competitive rate of 2.09% at a loan-to-value (LTV) of 75%. A new lower fee of £345 is payable.
This mortgage is available to first-time buyers, second-time buyers and remortgagors with the right deposit. Those borrowing funds for a house purchase can benefit from a £500 rebate, while remortgagors can profit from an incentive package of free valuation and free legal fees.
Repayments for this mortgage are very flexible: overpayments of up to 10% of the outstanding balance can be made every year and underpayments and payment holidays are also options, although these must not exceed the amount made in overpayments.
This latest rate reduction has cemented this mortgage's place in the Moneyfacts charts, allowing it to sit just behind the market-leader. The competitive rate, low fee and very generous incentive package make this a competitive offer that is bound to find favour with borrowers and remortgagors with the right deposit.
Four Moneyfacts Stars have been awarded.
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