Northern Rock reduces selected mortgage rates

Northern Rock has reduced some of its mortgage product rates with effect from 03 March 2010.

For borrowers looking to purchase using a simple, straightforward deal with limited flexibility, the new ‘Everyday’ 2 Year Fixed rates with product fees of £595 now start from just 3.45%, with a competitive rate of 4.89% for customers with a 20% deposit.

Tracker rates in the range start from even lower at 2.60% (BOE + 2.10%). Purchase customers opting for this product can select an LTV of 80% with a £595 product fee and pay a rate of just 4.49% (BOE + 3.99%).

Remortgage customers can also benefit from these reductions, as customers with a 20% deposit can opt for a 2 Year Flexible Fixed Rate with a product fee of £995 at 4.89%, a reduction of 0.50%.

Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the EC.