Compare Norwich and Peterborough mortgages

Norwich and Peterborough Building Society have mortgages aimed at both residential and commercial customers. Their different mortgage products are tailored to different segments of the mortgage market, so whatever you borrowing needs there is likely to be a mortgage that suits you.

First Time Buyer mortgages

Buying a first home can be daunting, especially if you are struggling to get together a big enough deposit to qualify for a traditional mortgage. Many lenders are working to make things easier for first time buyers by offering mortgages of up to 95% percent of a property’s value on a first home, meaning buyers only need to find 5% of the purchase price for a deposit

Buy to Let mortgages

If you are interest in buy a property to rent out, either as a private individual or as a limited company, you will not usually be able to do this with a traditional mortgage. Instead you need a dedicated buy to let mortgage. You can usually borrow up to around 75% of a property’s value with a buy to let mortgage.

Remortgaging with Norwich and Peterborough Building Society

Switching your mortgage to Norwich and Peterborough can allow you to get a better deal on your interest rate or borrow more. This means that once your old mortgage is paid off, you could end up with lower monthly repayments or a lump sum left over for home improvements or other purposes.

Second charge mortgages

Remortgaging is not the only option if you want to increase your borrowing against a property. You can also consider taking out a separate secured loan, often referred to as a second charge mortgage. This can allow you to take your total borrowing up to as much as 90% of your property’s market value.

Loan to value ratio

If you are not sure how much you will be able to borrow as a mortgage, there are two main factors which have the biggest influence on your borrowing potential. These are your income and the loan to value (LTV) ratio that lenders are willing to offer on particular mortgage products.

LTF is a way of showing what percentage of a property’s value the lender will be willing to lend. So, if a certain mortgage type has a maximum LTV of 70%, then you will be able to borrow up to 70% of a property’s market value. Generally mortgages with a lower LTV will come with better interest rates.

Find the best deals on mortgage rates

To get the best deal on your mortgage, it is sensible to compare as many different products from different providers as possible. This can be time consuming and stressful, so we offer a free mortgage calculator to help you find the best value mortgage deal for you.

Simply head to the top of the page and enter some basic details about your borrowing needs. The calculator will then match you up with top deals from leading providers across the industry. That way you can easily compare a range of appropriate deals and find one that fits your requirements.