The interest rates on business loans from Norwich and Peterborough Building Society (N&P) has been reduced.
The new interest rates on the society's two-year and five-year fixed business loans are immediately available.
The business loans on a two-year fixed interest rate are available at 6.18 per cent, lowered from 6.56 per cent. The five-year fixed interest rate business loan is available at 6.21 per cent, which was lowered from 6.55 per cent.
After the fixed interest rate period, the business loans revert to between 1.4 per cent and 3.00 per cent above the Bank of England's base rate.
According to N&P's David Jervis, the general manager of business services, these reduced interest rates offer a great opportunity to fix payments at lower rates than many borrowers would pay for a variable rate mortgage.
"This will benefit customers who are keen to keep their monthly repayments locked into an attractive interest rate. Limited funds are available so I would encourage businesses to apply quickly," Mr Jervis commented.
These business loans are available for remortgaging owner-occupier commercial properties and commercial investment properties.
N&P offers lower interest rates on business loans
Financial Services > Business Loans > News
N&P offers lower interest rates on business loans
Mon, 04 Jul 2005
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