Mortgage deals see further rate reductions from N&P
www.moneynews.co.uk > Mortgages > Mortgage deals see further rate reductions from N&P
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Mortgage deals see further rate reductions from N&P
Fri 12th Aug 2011
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The financial services provider's two, three and five-year products will be reduced by up to 0.3 per cent, the company announced today (August 12th).
Richard Barker, mortgage manager at N&P, said: "This reduction in the interest rates across our fixed-rate mortgage range is very good news for first-time buyers and those looking to remortgage or move to their next home."
Although the Bank of England's base rate was maintained at 0.5 per cent, industry analysts expect the next rate to increase in an attempt to counter inflation, which is two percentage points over its target of two per cent.
Such changes from N&P are moves to try and protect customers, according to Mr Barker, who claimed that the average homeowner on a £150,000 mortgage could save £2,200 under the new terms.
Recent research carried out by the mortgage lender found that the self-build market was ripe for investment, with almost a third of people in the UK claiming they would seriously consider constructing a property if the finance was available.
Click here for more mortgages news
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