Commercial lending award for N&P

THE Norwich & Peterborough Building Society has scooped one of the most prestigious national awards for commercial mortgage providers - for the third year running.

THE Norwich & Peterborough Building Society has scooped one of the most prestigious national awards for commercial mortgage providers – for the third year running.

The society has been named Best Commercial Mortgage Provider in the Business Moneyfacts Awards 2006.

No other lender has ever achieved three consecutive wins in the category and to complete its hat-trick, the N&P had to beat off competition from the big high street banks and other leading building societies.

Robert Lankey, N&P's executive manager of commercial lending, was presented with the award at a prize-giving ceremony in London attended by more than 300 people from the finance industry.

Mr Lankey said: “Winning this award for the third year running is a huge testament to the standard of service we provide to small and medium sized businesses.

“We won because of the attractive commercial mortgages we've offered over the last 12 months and the wide variety of the businesses we are able to help - from small shops to large factories, and from restaurants to pension funds.”

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He added: “Our aim is to be innovative in developing new ways to help our customers. In 2005, we introduced a new product to help our customers pay the VAT due on commercial property purchases; increased the amount we lend against good quality offices, which means customers can save a smaller deposit, and also changed our policy to allow customers to take part of their loan on an interest-only basis to provide more choice.

“Our specialised commercial lending team works very hard to provide a friendly and efficient service to every one of our business customers and this award is a credit to them.”

Nikki Cann, editor of Business Moneyfacts – part of the MoneyFacts Group, the independent provider of personal finance information – added: “By winning the Best Commercial Mortgage Provider award for the third year in a row, Norwich & Peterborough Building Society has proved its commitment to providing excellent value, flexible finance for small or medium sized enterprises.

“One win is an achievement, but three in a row is fantastic.”