Norwich and Peterborough Building Society (N&P) has launched fixed and discounted rate products with lower rates.

For the first time in its history the mutual is also introducing a ‘loyalty’ mortgage for customers who hold any other product.

Richard Barker, product manager at N&P, said: “Mortgage demand has been low for the first half of this year but we are introducing very keen pricing and a special two-year deal that’s available to every existing N&P customer