Norwich & Peterborough Building Society (N&P) has launched a new range of tracker mortgages, including a best buy 2.49% (BBR +1.99%) two year tracker product. 

Richard Barker, Mortgage Product Manager at N&P, said:  “Our new two and three year tracker products are very competitive in the market and are amongst the lowest available.  The new 2.49% two year tracker is N&P’s lowest mortgage rate, offering customers a fantastic reason to consider N&P when remortgaging.  The new tracker products are available at a range of LTV tiers (up to 85% LTV) and offer Offset versions, this supports our desire to increase customer choice and ensures we can help more customers reduce their monthly mortgage payments.” 

Example:

A Halifax SVR customer with a £100,000 capital and repayment mortgage, paying Halifax’s increased rate of 3.99% could save £3,000 in interest over the first two years by re-mortgaging to N&P’s 2.49% deal. 

MAIN DETAILS:

2 Year Base Rate Tracker

Bank Base Rate (BBR) +1.99% for 2 years
Current payable rate of 2.49%
Reverting to SVR after 2 years
Maximum 75% LTV
£795 Product Fee
10% penalty-free repayment facility per annum (subject to £10,000 cap)
Minimum interest rate floor of 2.49%
Minimum advance of £25,001
New borrowers only
3 Year Base Rate Tracker

BBR +2.09% for 3 years
Current payable rate of 2.59%
Reverting to SVR after 3 years
Maximum 75% LTV
£795 Product Fee
10% penalty-free repayment facility per annum (subject to £10,000 cap)
Minimum interest rate floor of 2.59%
Minimum advance of £25,001
New borrowers only
OTHER NEW PRODUCTS

2 Year Base Rate Tracker – BBR +2.24% for 2 years/Current payable rate of 2.74%. Reverting to SVR after 2 years. Maximum 75% LTV. New borrowers only
2 Year Base Rate Tracker – BBR +2.84% for 2 years/Current payable rate of 3.34%. Reverting to SVR after 2 years. Maximum 85% LTV. New borrowers only
2 Year Base Rate Tracker – BBR +3.04% for 2 years/Current payable rate of 3.54%. Reverting to SVR after 2 years. Maximum 85% LTV. New borrowers only
3 Year Base Rate Tracker – BBR +2.89% for 3 years/Current payable rate of 3.39%. Reverting to SVR after 3 years. Maximum 85% LTV. New borrowers only
Offset 2 Year Base Rate Tracker – BBR +2.24% for 2 years/Current payable rate of 2.74%. Reverting to SVR after 2 years. Maximum 75% LTV. New borrowers only
Offset 2 Year Base Rate Tracker – BBR +2.44% for 2 years/Current payable rate of 2.94%. Reverting to SVR after 2 years. Maximum 75% LTV. New borrowers only
Offset 2 Year Base Rate Tracker – BBR +3.39% for 2 years/Current payable rate of 3.89%.
Reverting to SVR after 2 years.  Maximum 75% LTV.  Existing customers only
2 Year Base Rate Tracker – BBR +3.19% for 2 years/Current payable rate of 3.69%. Reverting to SVR after 2 years. Maximum 75% LTV. Existing customers only