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Norwich & Peterboro&#39 flexi mortgage cuts the strings

Norwich and Peterborough Building Society is launching a flexible mortgage with no redemption penalties.

It offers a 1 per cent discount off the standard variable rate of 7.44 per cent.

Maximum loan to value is 75 per cent. There is no arrangement fee.

Overpayments can be made immediately and then used to fund payment holidays or underpayments.

Products and marketing general manager Steve Penlington says: “What mostpeople want in a flexible mortgage is the ability to overpay, or make capital repayments. What we are offering is a mortgage with no strings attached. We think this is the type of mortgage that people really want and we expect this scheme to be highly popular.”

The procuration fee ranges from 125 to 225.

Putting their best foot forward for charity are (from left) Karen Martens, Amrita Cochrane and Trish Farr. They form part of a team of five from Birmingham Midshires who are tackling the Great Malvern Walk towards the Heartbeat Campaign – a joint three-year initiative between the building society and the British Heart Foundation.

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