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N&P offers borrowers discount or cashback

Norwich & Peterborough


DISCOUNTED RATE MORTGAGE


Type: Mortgage offering the choice of a one year discounted rate or a cashback of 3.25 per cent.


Discounted term: 12 months from completion.


Discounted rate: 3.25 per cent.


Payable rate: 5.35 per cent.


Minimum loan: £1,000.


Maximum loan: Up to 95 per cent of purchase price or valuation, whichever is the lower, subject to a maximum of £150,000, up to 90 per cent of valuation to a maximum of £200,000, up to 85 per cent of valuation to a maximum of £250,000, loans higher than £250,000 subject to negotiation.


Income multiples: Three times principal income plus second or 2.5 times joint.


Arrangement fee: £295.


Redemption fee: No fee charged if another scheme taken with N&P, otherwise five months&#39 interest in the first five years.


Conditions: None.


Introducer&#39s fee: £125.


Tel: 01733 372222.

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