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N&P launches new offset mortgage products

15th December 2006 Print
Norwich and Peterborough Building Society (N&P) is launching two new Offset Tracker mortgage products with immediate effect.

Offset with Gold Current Account

Bank Base Rate +0.44% for term (current payable rate of 5.44%)
Maximum 90% LTV
£499 reservation fee
Free valuation
Free legal fees or £200 cashback for re-mortgages
No redemption charges
Minimum advance of £50,000
Mandatory active Gold Current Account required

Offset with Optional Gold Current Account

Bank Base Rate +0.59% for term (current payable rate of 5.59%)
Maximum 90% LTV
£499 reservation fee
Free valuation
Free legal fees or £200 cashback for re-mortgages
No redemption charges
Minimum advance of £50,000
Gold Current Account optional

Richard Barker, N&P’s mortgage product manager, said: “These two new Offset mortgages compare very well with what’s currently available. The new products track the Bank Base Rate for the term of the mortgage, ensuring that our customers benefit from a long term competitive rate of interest. And our Offset customers like their flexibility and the opportunity to save on the amount of interest paid and potentially pay off their mortgage earlier.”