Norwich & Peterborough Building Society has cut the rate of its two-year fixed rate mortgage by 0.10%, establishing it in the Moneyfacts charts and earning it the top accolade in the process.
This mortgage now has a fixed rate of 3.68%, enabling it to take a comfortable place in the charts. It is available at a loan-to-value (LTV) of 95% and has a fee of £845.
This deal is for house purchase customers who are in possession of a modest deposit of 5%. There are no incentives accompanying this mortgage, but borrowers are given an array of repayment options: overpayments, underpayments and payment holidays are all permitted, provided certain conditions are met.
By cutting the rate this deal has become one of the top accounts in its sector, a move that is sure to grab the attention of eager first-time buyers. The fact that this deal also comes with flexible repayment options enhances its appeal yet further, ensuring that it fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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