Norwich and Peterborough Building Society (N&P) has revealed it is to offer its lowest-ever ten-year fixed-rate mortgage.
The product is available to consumers at a best buy rate of 3.99 per cent at up to 75 per cent loan-to-value with a fee of £295, while also including a free valuation and no-cost legal fees for remortgages, or a cashback option of £200.
Richard Baker, product manager for N&P – which is part of the Yorkshire Building Society Group – said the provider is delighted to be releasing this new option, claiming the company is confident it will be received well by the wider market.
The industry figure explained the offer has been made possible thanks to current swap rates and noted: “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.”
He added the product is likely to prove popular among both first-time buyers looking to get a foot on the first rung of the property ladder and those homeowners who are eager to remortgage.
