Norwich & Peterborough Building Society has cut the rate on its two-year fixed mortgage by 0.15%, boosting its competitiveness and earning it an 'excellent' rating in the process.
This deal now has a rate of 1.64% fixed for two years, the joint lowest rate currently available for its terms. It is offered at a loan-to-value (LTV) of 85% and has a fee of £975.
This mortgage is open to all applicants who have a 15% deposit. There are no incentives accompanying this deal, but borrowers can take advantage of the considerable repayment options: overpayments, underpayments and payment holidays are all allowed, provided certain conditions are met.
This deal is also available through branches of Yorkshire Building Society.
The rate cut has honed this mortgage's competitiveness and secured it an 'excellent' title, something that will certainly catch the eye of mortgage hunters. Eligible borrowers can also profit from the wide range of flexible repayment options, which will give them greater control over their outstanding balance.
Moneyfacts rating: Excellent
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