Norwich & Peterborough Building Society has launched a range of new three-year discounted variable mortgage schemes, replacing N&P’s existing discount for term products.

Products include a 2.95% discounted rate for three years (discount of 2.40% from SVR), 3.15% discounted rate for three years (discount of 2.20% from SVR), offset 3.30% discounted rate for three years (discount of 2.05% from SVR) and offset 3.45% discounted rate for three years (discount of 1.90% from SVR). Maximum LTVs on the above products is 75%.

Richard Barker, product manager at N&P, said: “The new 2.95% discounted rate compares favourably with what’s available on the high street. Although some other lenders offer a lower rate