The changes are effective immediately with new product details as follows:
Product previously at 6.34 per cent, now reduced to to 5.59 per cent. LTV of 90 per cent with £385 reservation fee and 3 per cent redemption fee within the first three years.
Product previously at 6.64 per cent, now reduced to 5.79 per cent. LTV of 90 per cent with £475 reservation fee, free valuation & legals using the nominated solicitor (or £200 cashback for remortgages). 3 per cent redemption fee within the first three years and £200 cashback for purchasers.
Both products are available for loans of over £50,000 and overpayments are allowed from the outset. The products are both portable.
Stewart Hunter, N&P’s head of introduced lending, said: “The new rates also compare very favourably against most two and five year fixed rates in the market.
"For customers not wanting to fix as long as 5 years, but who still want reassurance that their mortgage payment won’t change for a few years, these products offer the ideal solution.”
