NandP 2 year fixed rate mortgage 1.89% with £195 fee for <65% LTV. Norwich and Peterborough
221°Expired

NandP 2 year fixed rate mortgage 1.89% with £195 fee for <65% LTV. Norwich and Peterborough

25
Found 23rd Oct 2014
Even better than the last time I post a deal, feel hard done by with my present 2.19% NandP fixed that ends in May

Current rates effective from 17/09/2014
- Apply in branch
- Apply by phone

Call 0845 300 0522

Request a CallbackFind a Branch How much can you borrow?
•You can borrow up to 65% of our mortgage valuation of the property or the purchase price (subject to criteria)

•We lend to applicants in England and Wales, aged over 18 and under 75 at the end of the mortgage term.

•Minimum loan: £25,001

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What's great about this mortgage
•Your monthly repayments are fixed for the first two years

•You have the option to overpay or underpay (subject to terms and conditions)

•Make capital repayments up to 10% of the loan or £10,000 per year (whichever is lower) without charge.

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Some things you need to know
•£195 product fee

•Valuation fee paid by customer

•Your interest rate changes to our standard variable rate after two years

•There will be an early repayment charge if you repay in full or if you repay over 10% of the loan (or £10,000 - whichever is lower) during the initial rate period.

•No self-builds or property (e.g. barn) conversion allowed

•New borrowers only

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Could be ideal if you...
•Want to be secure in the knowledge that your repayments are fixed for two years


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Applications are subject to standard lending criteria and all loans are subject to status.

¹Every mortgage lender has a standard variable rate, or SVR, of interest to which most of its mortgage deals revert. The standard variable rate is set by the lender and may go up and down from time to time.

APR stands for Annual Percentage Rate and is designed to show the total yearly cost of a mortgage stated as a percentage of the loan. APR is quoted by every lender to help customers compare the overall costs of different mortgages. It includes all charges incurred such as the interest rate paid at the start of the mortgage, the product fee, valuation fee and other charges commonly paid at the end of a mortgage term.

²LTV stands for loan to value ratio. This tells you how much of a property is being financed by your mortgage and is a way to tell how much equity you have in a property. For example, if you buy a home worth £100,000 and your mortgage is for £75,000, your loan is 75% of the home's total value and therefore your loan to value ratio (LTV) is 75%.

25 Comments

Original Poster

Cold Votes? please point me to a cheaper one please?

great rate but how many new borrowers have 35% deposit

unless new borrower doesn't necessarily mean first time buyer. then its a great deal

Eg my mortgage is only about 30% of the houses value due to buying before prices went up in 2000.

AL1S0N

unless new borrower doesn't necessarily mean first time buyer. then its a … unless new borrower doesn't necessarily mean first time buyer. then its a great deal

Yes it means new customers. I doubt many first time borrows would have that much deposit. good for me though.

New borrower = new to n&p

dont forget you'll need approx £400 to pay for your legal fee's and you'll have to pay their valuation fee's also.

Original Poster

paulj48

dont forget you'll need approx £400 to pay for your legal fee's and … dont forget you'll need approx £400 to pay for your legal fee's and you'll have to pay their valuation fee's also.



Houses price
Up to £75,000 valuation and non refundable set up fee £232
£75,001 - £100,000 valuation and non refundable set up fee £244
£100,001 - £150,000 valuation and non refundable set up fee £278
£150,001 - £200,000 valuation and non refundable set up fee £314
£200,001 - £250,000 valuation and non refundable set up fee £350
£250,001 - £350,000 valuation and non refundable set up fee £391

Banned

First time buyers with 35% deposit?

Very unlikely.

dodgymix

Houses priceUp to £75,000 valuation and non refundable set up fee … Houses priceUp to £75,000 valuation and non refundable set up fee £232£75,001 - £100,000 valuation and non refundable set up fee £244£100,001 - £150,000 valuation and non refundable set up fee £278£150,001 - £200,000 valuation and non refundable set up fee £314£200,001 - £250,000 valuation and non refundable set up fee £350£250,001 - £350,000 valuation and non refundable set up fee £391



That PLUS your legal fee's, you still have to pay your solicitor to do the conveyancing and searches, land registry fee's etc. even if its just a remorgage, I know as I moved my morgage to N&P early this year.

Original Poster

paulj48

That PLUS your legal fee's, you still have to pay your solicitor to do … That PLUS your legal fee's, you still have to pay your solicitor to do the conveyancing and searches, land registry fee's etc. even if its just a remorgage, I know as I moved my morgage to N&P early this year.



ah right

when i switched to them via remortgage 16 months ago its was free valuation and legal fees, they even given me £250 cashback

all costs that need to be paid with anyone

Mortgage coys must be passing on costs more frequently now.

Original Poster

lolyehright

First time buyers with 35% deposit? Very unlikely.



Does the thread mention "first time buyer"

a "New customer" and "first time buyer" are totally different although a first time buyer can obviously be a new customer

paulj48

That PLUS your legal fee's, you still have to pay your solicitor to do … That PLUS your legal fee's, you still have to pay your solicitor to do the conveyancing and searches, land registry fee's etc. even if its just a remorgage, I know as I moved my morgage to N&P early this year.



Surely that's only when you buy a house? I got a new deal with Nationwide 3 years ago and the only charge was the product fee.

dodgymix

ah rightwhen i switched to them via remortgage 16 months ago its was free … ah rightwhen i switched to them via remortgage 16 months ago its was free valuation and legal fees, they even given me £250 cashback all costs that need to be paid with anyoneMortgage coys must be passing on costs more frequently now.



How did you get cashback?

I've been taking to them this week about a different deal but yes they require product fees, valuation fees and solicitor fees.

In the process of remortgaging, but really feel 5yr ones are the way to go due to their price, but then something like this comes along......

2 year fix. So basically it will end just as the interest rates start to ride then.

dodgymix

Does the thread mention "first time buyer" a "New customer" and "first … Does the thread mention "first time buyer" a "New customer" and "first time buyer" are totally different although a first time buyer can obviously be a new customer



If people are going to be borrowing tens of thousands of pounds then I'd like to think that they know the difference between a FTB and a new customer. Apparently not.:p

SmokinMonkey

I've been taking to them this week about a different deal but yes they … I've been taking to them this week about a different deal but yes they require product fees, valuation fees and solicitor fees.



Only for first time buyer?

I'm a Santander current account customer, they are offering a 5 yr fix at 2.99% @ 70LTV £495 product fee. How does that compare over a 5 year period, do people think rates will up that much in the next 2-3 years?

Original Poster

onthecheap

I'm a Santander current account customer, they are offering a 5 yr fix at … I'm a Santander current account customer, they are offering a 5 yr fix at 2.99% @ 70LTV £495 product fee. How does that compare over a 5 year period, do people think rates will up that much in the next 2-3 years?


So many people have too high mortgages that it'll be years before proper rises back to 4 or 5%

Imagine sone one on a £200k mortgage and base rate goes to 4.5%

Could they really find an extra £8 per year £666.66 a month

Country can't afford the consequences

so how much does your salary need to be in order to qualify for this mortgage?

Original Poster

roadrunner1

2 year fix. So basically it will end just as the interest rates start to … 2 year fix. So basically it will end just as the interest rates start to ride then.



People said that 7 years ago,, ooohh dont take a 2 year fix out as rates will go up... still 0.5% and government cant afford for Base rate tyo go up as it will increase repossessions.. not a good tool for attracting votes


Cant see Base rate moving above 2% in the next 5 years.. I work in finance and long term borrowing cost sensitivity is regularly getting reduced on long term outlook

onthecheap

I'm a Santander current account customer, they are offering a 5 yr fix at … I'm a Santander current account customer, they are offering a 5 yr fix at 2.99% @ 70LTV £495 product fee. How does that compare over a 5 year period, do people think rates will up that much in the next 2-3 years?



If you have the 3-2-1 account (which is free to move and you keep the same account number) they give you 1% cashback on monthly Santander mortgages, as well as 1% cashback on council tax, water, phone, broadband, tv monthly payments.

is the product fee of £195 additional to the set up fee?
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