Norwich and Peterborough Building Society (N&P) has taken up to 0.4 percentage points off the interest rates on its range of 85% loan to value (LTV) fixed rate mortgages.

The new two-year fixed rate is priced at 3.95%, while the three-year fix is available at 4.38%.

N&P’s five-year fixed-rate deals, with and without incentives, have been reduced to 5.24% and 4.98% respectively.

Richard Barker, mortgage manager at N&P, said: “This reduction in the interest rates across the range of our fixed rate mortgages is very good news for those looking to move home