N&P fixed-rate mortgages reduced

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N&P fixed-rate mortgages reduced

Norwich and Peterborough Building Society (N&P) has announced that it is reducing the rates on two if its fixed-rate mortgages.

The group is offering lower rates of 5.31 and 5.38 per cent on its ten-year fixed-rate products.

Both N&P mortgages allow for a maximum loan-to-value rate of 90 per cent, with redemption charges gradually being lowered over the duration of the mortgage.

Richard Barker, product manager for N&P, said the group was pleased to reduce the rates on its packages.

"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," he added.

All N&P long-term mortgages also possess flexible features, allowing overpayments, underpayments and payment holidays.

Minimum loans of £20,000 are also applicable to N&P mortgages.

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