Norwich and Peterborough launches new deals for first-time buyers

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Norwich and Peterborough launches new deals for first-time buyers

Norwich and Peterborough Building Society has announced the launch of two new mortgage deals aimed at people looking for their first home.

The products, which offer 90 per cent loan to value for customers, could also be suitable for people who want to remortgage their current properties.

Available from Thursday (May 19th), the mortgages provide a discounted rate of 4.95 per cent for two years and are ideal for people seeking lower repayments or attempting to find their feet as a homeowner.

The society has also announced plans to increase the maximum loan to value on mortgages for self-build and new-build houses from 75 to 85 per cent.

Product manager for mortgages at Norwich and Peterborough Building Society Richard Barker said: "These changes will be a welcome boost for many prospective homeowners, who might have struggled to raise a sufficient deposit to purchase or remortgage in the current environment."

The mortgage lender recently announced plans to merge with the Yorkshire Building Society to ensure continued levels of investment in the back office.

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