Norwich and Peterborough boosts LTV to 85%
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Norwich and Peterborough Building Society has increased its loan to value to 85 per cent and cut its five year fixed rate mortgage rate from 6.59 per cent to 5.89 per cent.
The Society has increased its LTV from 80 per cent to 85 per cent on its three and five year fixed rate mortgages and its three year and three year offset discounted variable rates from 75 per cent to 80 per cent.
Its five year 6.59 per cent fixed rate mortgage has dropped to 5.89 per cent and its five year 6.69 per cent fixed rate mortgage with free valuation, £200 cashback for purchases, free legal fees for remortgages has reduced to 5.99 per cent.
Product manager for mortgages Richard Barker says: “We have witnessed a general trend of rising LTVs across the market over the last few months.
“The new higher LTVs will provide a welcome boost for many customers who have struggled to raise a sufficient deposit to purchase or re-mortgage in the current environment.”
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