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New fixed rate on N&P's 85% LTV mortgage
N&P has announced that it will lower the fixed rates on its 85 per cent loan to value (LTV) mortgage deals.
The building society will cut up to 0.3 per cent off the interest rates for these products, making the two and three-year deals the lowest of their kind on the UK mortgage market.
"This reduction in the interest rates across the range of our fixed rate mortgages is very good news for those looking to move home, or re-mortgage, as we approach summer," explained N&P's mortgage manager Richard Barker.
He added that the deal is particularly good for first-time buyers as they have low rates and are available with a 15 per cent deposit.
According to N&P, the lower rate could save customers around £1,500 over the course of a three-year fixed rate deal on a mortgage of £150,000 compared with it's old rate of 4.88 per cent.
Moneyfacts.co.uk reported recently that there are now 41 per cent more mortgage deals asking for just a ten per cent deposit than there was a year ago, signalling hope for first-time buyers.
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The building society will cut up to 0.3 per cent off the interest rates for these products, making the two and three-year deals the lowest of their kind on the UK mortgage market.
"This reduction in the interest rates across the range of our fixed rate mortgages is very good news for those looking to move home, or re-mortgage, as we approach summer," explained N&P's mortgage manager Richard Barker.
He added that the deal is particularly good for first-time buyers as they have low rates and are available with a 15 per cent deposit.
According to N&P, the lower rate could save customers around £1,500 over the course of a three-year fixed rate deal on a mortgage of £150,000 compared with it's old rate of 4.88 per cent.
Moneyfacts.co.uk reported recently that there are now 41 per cent more mortgage deals asking for just a ten per cent deposit than there was a year ago, signalling hope for first-time buyers.
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Published: 13/05/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.