N&P reduce rates on 10 year fixed rate mortgages

Norwich and Peterborough Building Society (N&P) is reducing the rates on two of its 10 year fixed rate mortgages, taking one to an anticipated “best buy” of just 5.31%.

Richard Barker, product manager for N&P, said: “Following recent movements in money market rates, we’re pleased to be able to reduce the rates on two of our 10 year fixes, and to offer our customers new rates of 5.31% and 5.38%. Following the launch of our first ever 15 and 20 year fixed rate mortgages last week, anyone looking to fix their repayments for a longer period should pop in to one of our branches or call our contact centre to see how we can help.”

Details of N&P’s lower 10 year fixed rate mortgages:

5.31% fixed rate for 10 years (reduced from 5.44%)
Maximum 90% LTV
£399 reservation fee
Valuation fee paid by applicant
Redemption charges of 5% in the first 7 years, then 4%/3%/2% in the last three years
Flexible features apply

Or

5.38% fixed rate for 10 years (reduced from 5.64%)
Maximum 90% LTV
£475 reservation fee
Free valuation
Free legal fees or £200 cashback
Redemption charges of 5% in the first 7 years, then 4%/3%/2% in the last three years
Flexible features apply