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Norwich & Peterborough BS increases LTVs

Norwich & Peterborough Building Society has increased the loan-to-value on a number of its discount rate mortgages to 85 per cent.

The society has increased the LTV from 75 per cent to 85 per cent on its two-year discounted variable rate mortgage at 2.59 per cent and from 80 per cent to 85 per cent LTV on a selection of other discounted variable rates.

The changes will take effect from tomorrow.

N&P product manager for mortgages Richard Barker says: “These new higher LTVs across a broad selection of our variable rate mortgages mean that a greater number of people will be able to access these good deals, whether they are buying their first home, or looking to re-mortgage after coming off their previous deal with their mortgage provider.”

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