New ten-year fixed rate deal from N&P

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New ten-year fixed rate deal from N&P

Norwich & Peterborough Building Society (N&P) has announced the launch of its lowest ever ten-year fixed rate mortgage for UK borrowers.

The company is offering a deal of 3.99 per cent APR for those who have a 75 per cent loan-to-value ratio or higher, while the product comes with a fee of just £295, making it one of the cheapest offers the lender has ever produced.

"We know that this competitive rate will be welcome news for those who wish to fix for a longer period of time giving them the certainty of what their monthly payments will be for the duration of their loan," commented product manager for N&P Richard Barker.

HSBC also announced earlier this month that it is committed to lending £15 billion of mortgage borrowings in 2012, with the promise helping to fund purchases for up to 150,000 home buyers during the next 12 months.

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