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N&P in exclusive tracker deal for Trigold platform

Norwich & Peterborough is making a base-rate tracker mortgage available exclusively on the Trigold electronic trading platform for intermediaries.

The building society says the savings it makes by receiving applications via the platform mean it is worthwhile to choose this as the sole distribution route for the tracker.

The mortgage rate is 0.25 per cent below the Bank of England base rate for two years and 0.75 per cent below base rate over the remaining term.

The loan offers a procuration fee of 0.3 per cent, with a minimum payment of £125 and maximum of £1,000.

N&P is also taking part in Trigold&#39s Christmas in July promotion, where brokers will receive an extra £25 for any online applications which complete before Christmas.

Trigold says the benefits to lenders of receiving electronic applications include faster decision-making, reduced admin and quicker delivery of products to the market.

Trigold group chief executive Martin Finegold says: “We are delighted that N&P has made this product available. It is an excellent example of how the benefits of online transactions are eventually being shared with the consumer and the industry as a whole.”

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