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The Norwich and Peterborough Building Society

ABOUT The Norwich and Peterborough Building Society

The Norwich and Peterborough Building Society was formed in 1986 the when the Peterborough and the Norwich Building Societies merged.

However its roots go back as far as 1852.

The Society now has over 50 branches throughout East Anglia, Northamptonshire, Lincolnshire and Bedfordshire and currently employs over 1,000 people.

It is a mutual organisation which means it is owned by its members and not shareholders. It aims to please its customers, not profit-hungry equity shareholders.

Instead of paying dividends, it wants to provide customers with better products, competitive rates and the highest standards of service.

It has mortgages the following types of mortgages:

Fixed Rate
Discounted Rate
Base Rate Tracker
Offset

Norwich and Peterborough Building Society Mortgage Products

Fixed Rate: your mortgage will be fixed at an agreed rate for a set period. After the fixed rate period has finished the mortgage rate will revert to the Society’s standard variable rate. You can apply for 2, 3, 5 or 10 year fixed rate mortgages. An early repayment charge is payable. Your mortgage is portable – if you move then it can move with you. Fixed mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments. Discounted Rate: your mortgage rate is set at a discount off the Society’s standard variable rate for an agreed period. After the discount period has finished your mortgage will revert to the Society’s standard variable rate. You can apply for 2 and 5 year discount mortgages. An early repayment charge may be payable if you repay during the discount period. Your mortgage is portable – if you move then it can move with you. Discount mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments. Base Rate Tracker: your mortgage rate will be set at rate according to the Bank of England base rate. Depending on which tracker product you choose your rate could be set for the whole mortgage term or for an agreed period. There is no early repayment charge. Your mortgage is portable – if you move then it can move with you. Tracker mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments Offset: you can use your savings (as long as they are in an N&P account) to reduce the balance of your mortgage on which your interest payments are calculated. This helps to lower your monthly payments. You can apply for offset mortgages that also have tracker and fixed rate facilities. There is no early repayment charge. Your mortgage is portable – if you move then it can move with you. Offset mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments. If you are interested in a mortgage quotation including those offered by The Norwich and Peterborough Building Society please complete our quick enquiry form
The Norwich and Peterborough Building Society also deal in Spanish mortgages: Fixed Rate Variable Rate Tracker Rate Fixed: you can choose between 2 and 5 year fixed rate products. After the fixed period has finished the rate will revert to the Society’s standard variable rate. The maximum mortgage term is 20 years. An early repayment charge will apply for the first 5 years. Variable: your mortgage is set at then Society’s standard variable rate for the whole mortgage term. Tracker rate: your mortgage is set according to the Banks of England base rate. It is stepped for the first 5 years. It will then revert to the Society’s standard variable rate for the rest of the mortgage term. Additional Borrowing: this could be an option if you wanted to make home improvements. Repayments can be spread over your original mortgage term or over a shorter period. You can also apply for a Standard Variable Rate mortgage. This is linked to the Bank of England base rate and the general market environment. However your monthly payment will only be changed on an annual basis. Standard Variable Rate mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments The Norwich and Peterborough Building Society also offers commercial properties throughout the UK and has other specialist mortgage options.

Norwich and Peterborough Building Society Mortgage Products

Fixed Rate: your mortgage will be fixed at an agreed rate for a set period. After the fixed rate period has finished the mortgage rate will revert to the Society’s standard variable rate. You can apply for 2, 3, 5 or 10 year fixed rate mortgages.

An early repayment charge is payable. Your mortgage is portable – if you move then it can move with you. Fixed mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments.

Discounted Rate: your mortgage rate is set at a discount off the Society’s standard variable rate for an agreed period. After the discount period has finished your mortgage will revert to the Society’s standard variable rate. You can apply for 2 and 5 year discount mortgages.

An early repayment charge may be payable if you repay during the discount period. Your mortgage is portable – if you move then it can move with you. Discount mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments.

Base Rate Tracker: your mortgage rate will be set at rate according to the Bank of England base rate. Depending on which tracker product you choose your rate could be set for the whole mortgage term or for an agreed period.

There is no early repayment charge. Your mortgage is portable – if you move then it can move with you. Tracker mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments

Offset: you can use your savings (as long as they are in an N&P account) to reduce the balance of your mortgage on which your interest payments are calculated. This helps to lower your monthly payments. You can apply for offset mortgages that also have tracker and fixed rate facilities.

There is no early repayment charge. Your mortgage is portable – if you move then it can move with you. Offset mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments.

If you are interested in a mortgage quotation including those offered by The Norwich and Peterborough Building Society please complete our quick enquiry form

The Norwich and Peterborough Building Society also deal in Spanish mortgages:

Fixed Rate
Variable Rate
Tracker Rate

Fixed: you can choose between 2 and 5 year fixed rate products. After the fixed period has finished the rate will revert to the Society’s standard variable rate.

The maximum mortgage term is 20 years. An early repayment charge will apply for the first 5 years.

Variable: your mortgage is set at then Society’s standard variable rate for the whole mortgage term.

Tracker rate: your mortgage is set according to the Banks of England base rate. It is stepped for the first 5 years. It will then revert to the Society’s standard variable rate for the rest of the mortgage term.

Additional Borrowing: this could be an option if you wanted to make home improvements. Repayments can be spread over your original mortgage term or over a shorter period.

You can also apply for a Standard Variable Rate mortgage. This is linked to the Bank of England base rate and the general market environment. However your monthly payment will only be changed on an annual basis.

Standard Variable Rate mortgages are flexible as well – you can make underpayments and even take payment holidays as long as you have made the necessary overpayments

The Norwich and Peterborough Building Society also offers commercial properties throughout the UK and has other specialist mortgage options.

Current Norwich and Peterborough Building Society Mortgage Offers

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