Norwich & Peterborough Building Society (N&P) is cutting rates on 75% LTV mortgages for fixed terms up to five years.

This makes its two-year fixed rate mortgage priced at 3.39% and a three-year fixed rate mortgage at 3.64%.

Its offset equivalent of the two year fixed rate mortgage is available at 3.59%.

“We know borrowers are seeking out fixed rate mortgages when there is so much uncertainty about interest rates and the economy in general,” said N&P product manager Richard Barker.

“Borrowers can have the security of fixing their monthly mortgage repayments for a period to suit them but we also offer them the opportunity to overpay by up to 10% of their mortgage each year, without penalty.

“We also offer products with free legal fees, low product fees of £295 and £200 cashback, for borrowers wanting to minimise their costs on their purchase.

“As part of the Yorkshire Building Society group, N&P is committed to offering borrowers choice as well as competitive mortgage rates, so they can find the deal which best suits their individual needs.”