Ten Year Fixed Rate Mortgage Schemes:
- New rate – 5.24% (previously 5.38% / 95% LTV) - APR 5.8%
(Redemption charge 5% of the outstanding balance in the first seven years, 4% in year eight, 3% in year nine and 2% in year 10)
- New rate – 5.34% (previously 5.48% / 95% LTV) - APR 5.8%
- Free valuation and free legal fees or £250 cashback
(Redemption charge 5% of the outstanding balance in the first seven years, 4% in year eight, 3% in year nine and 2% in year 10)
Five Year Fixed Rate Mortgage Schemes:
- New rate – 5.24% (previously 5.34% / 95% LTV) - APR 6.0%
(Redemption charge 5% of the outstanding balance in the first three years, 4% in year four and 3% in the fifth year for both)
- New rate – 5.38% (previously 5.48% / 95% LTV) - APR 6.0%
- Free valuation and free legal fees or £250 cashback
(Redemption charge 5% of the outstanding balance in the first three years, 4% in year four and 3% in the fifth year for both)
- New rate – 5.58% (previously 5.68% / 95% LTV) – APR 6.1%
- Available to first-time buyers only – free valuation and £1,500 cashback
(Redemption charge 5% of the outstanding balance in the first three years, 4% in year four and 3% in the fifth year for both).
Gary Lacey, N&P’s group product manager, said: “We welcome Prof. Miles report and the emphasis on longer term fixed rates that seems likely to result. We’ve responded by reducing our longer fixes which is good news for customers who are keen to keep their monthly repayments locked into an attractive interest rate. And for homebuyers with higher incomes, our five and 10 year schemes offer the opportunity to borrow more with the security of knowing that any upward interest rate changes won't affect their monthly repayments.”
Main details for all above-mentioned products:
- Minimum loan £1,000 - maximum negotiable.
- No compulsory insurances.
- Flexible features available - overpayments allowed from the outset; any overpayments made can be used to fund payment holidays and underpayments.
- All portable during the fixed rate period if the customer wishes to move home.
- £199 Reservation fee on Five Year Fixed Rate
- £399 Reservation fee on 10 Year Fixed Rate
For details, customers should call into their local branch or contact the Society’s Contact Centre on 0845 300 2522. N&P’s website is www.npbs.co.uk.
