N&P pulls 10-year fixed rate mortgage following high demand

Norwich & Peterborough (N&P) has pulled a 3.99 per cent 10-year fixed rate mortgage in order to maintain customer service.

The home loan was pulled yesterday (6 February).

All customer appointments already arranged with N&P’s mortgage advisers will be honoured.

Richard Barker, product manager of N&P, said: “We were confident it was the right time to offer a 10-year fixed rate mortgage and have been proved correct that there is high demand for longer-term fixed deals, especially with incentives such as low fees and cashback.

“In order to maintain our high standards of customer service, we have reluctantly taken the decision to withdraw the product but, in the face of such interest from borrowers, hope to be able to return with a similarly competitive product in the future.

“We have been reviewing our mortgage range since our merger with Yorkshire Building Society at the end of last year and aim to offer more exciting and competitive deals throughout 2012.”