Norwich and Peterborough have designed an exclusive product for the Trigold electronic trading platform.
The product is a highly competitive base rate tracker, initially running at a 0.25 per cent below BBR for 2 years, and then at 0.75 per cent over for the remainder of the mortgage. The product has a proc fee of 0.30 per cent, with a minimum payment of £125, and up to £1,000.
Norwich and Peterborough are also part of Trigold's Christmas in July promotion, so any applications sent online via Trigold, which complete before Christmas, will be rewarded with an extra £25.
The benefits of receiving electronic applications to mortgage lenders such as Norwich & Peterborough are considerable, and include faster decision-making, reduced administration and quicker delivery of products to the market. It's as a consequence of these savings that Norwich & Peterborough have agreed to launch this exclusive product only available via Trigold.
Stewart Hunter, head of introduced mortgages at Norwich & Peterborough, said: "The savings that Norwich and Peterborough make from receiving applications via Trigold have allowed us to provide this excellent product as an exclusive. We expect Trigold's extensive users base to take advantage of such a competitive mortgage, especially with the £25 bonus that they are offering. We hope this is only the beginning of a long and fruitful relationship with Trigold."
Martin Finegold, group chief executive at Trigold, said: "We are delighted that Norwich and Peterborough have made this product available. It's an excellent example of how the benefits of online transactions eventually being shared with the consumer and the industry as a whole."
