Norwich and Peterborough (N&P) Building Society has announced reductions to its rates for fixed-term mortgages.
The provider noted the move means it is now offering some of the most competitive fixed-rates for people looking to borrow for a low-fee home loan .
Reductions have been made across the range and rates have been cut on 75 per cent loan-to-value mortgages for fixed-terms up to five years – with its two-year fixed-rate deal now standing at 3.39 per cent and its three-year fixed-rate offering coming in at 3.64 per cent.
Richard Barker, product manager at N&P – which is part of the Yorkshire Building Society group – noted the lender is aware of the high demand for fixed-rate mortgages at a time when there is general uncertainty regarding interest rates and the wider economy.
Mr Barker stated: “N&P is committed to offering borrowers choice, as well as competitive mortgage rates, so they can find the deal which best suits their individual needs.”
He added people who take advantage of the new rates can benefit from the security of fixing their monthly mortgage repayments for a period compatible with their circumstances.
