The mortgage is available for up to 60% loan to value and has a £295 fee. Other incentives include free valuation and either free legal fees for remortgages or £200 cashback for home buyers.
Richard Barker, N&P product manager, said: “N&P is increasingly becoming known for competitive deals with low fees and this newest 3-year product complements our 2-year and 5-year fixed rate mortgages at 60% LTV.
“The costs associated completing a mortgage can add up and, in the case of remortgaging in particular, may even deter homeowners from switching to a better deal which will save them money.”
Borrowers can overpay up to 10% of their mortgage each year without penalty up to an annual limit of £10,000.
