A new range of tracker mortgages has been unveiled by Norwich and Peterborough Building Society (N&P), as the provider looks to re-enter this section of the home loan market.
The company noted the launch arrives at a time when a number of other lenders are taking action to up mortgage rates for those already paying off deals.
Included in the new collection is a best-buy two-year tracker product at 2.49 per cent.
Richard Barker, mortgage product manager at N&P – which employs more than 800 members of staff and serves over half a million customers – explained this offer is the lowest rate available from the organisation and should encourage homeowners looking at their remortgaging options to consider a switch to the plan.
The industry figure stated: “Our new two and three-year tracker products are very competitive in the market and are amongst the lowest available.”
As part of the reboot, the tracker arrangements are being offered at a number of different loan-to-value (LTV) levels, capped at 85 per cent LTV, while the availability of offset agreements is aimed at increasing customer choice.
