Norwich & Peterborough Building Society has lowered rates on a number of its longer-term fixed rate products.

The mutual has cut rates by up to 0.30% across a number of loan-to-value ratios.

First-time buyers and other with a 10% deposit will have access to a 3.44% three-year fixed rate and a 3.84% five-year fix. A product fee of £1,295 applies to both products.

Norwich & Peterborough said the products had been targeted at first-time buyers and existing home owners who want to move up the ladder.

Buyers with a 20% deposit have access to 2.49% three-year fixed rate mortgage while a 2.64% five-year fix is available at 75% loan-to-value. Both products also come with a £1,295 product fee.

Richard Barker, mortgage product manager at Norwich & Peterborough Building Society, said: “We are always looking to offer our customers the best possible rates on mortgages, combined with the high standard of customer service our members expect.

“We think the reductions across these popular loan-to-value bands on the medium fixed terms will appeal to borrowers who want take advantage of today’s competitive rates, with the security of knowing exactly what their monthly mortgage repayments will be for the next three or five years.”