Norwich & Peterborough reduces mortgage rates

21 July 2005
Norwich & Peterborough Building Society is reducing the rates on its fixed-rate mortgages in both the UK and Spain from tomorrow.

Its five-year fixed-rate mortgages now have three new rates, its ten-year fixed-rate mortgages have two new rates, and its offset five-year fixed mortgage also has a rate reduction.

Customers can opt for a five-year fixed-rate mortgage at 4.85 per cent, down from 4.98 per cent, with 90 per cent loan to value and six per cent APR.

Or, they could choose a five-year rate at 5.08 per cent, down from 5.18 per cent, with 95 per cent loan to value and 6.1 per cent APR.

People interested in a ten-year fixed-rate mortgage can now opt for a new rate of 4.83 per cent, down from 4.88 per cent, with 90 per cent loan to value and 5.3 per cent APR.

All mortgages require a minimum loan of £1,000, with the maximum loan said to be "negotiable".

Meanwhile the Spanish five-year fixed-rate has been reduced to 5.19 per cent from 5.49 per cent, with 6.6 per cent APR and a minimum purchase price of £60,000.

To read more about mortgages, click here.

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