Northern Rock cuts mortgage application fee for purchase customers

Northern Rock is to reduce its application fee to customers looking to buy a new property. The news, which will see the reduction come into force from Monday next week (23rd August), comes just days after the lender reduced mortgage rates across its entire range.

The move takes the mortgage application fee for purchase customers down from £250 to £99, and is one of the many ways in which Northern Rock plc continues to make improvements to its products and services.

The purchase range, which includes both Fixed Rate and Tracker products, as well as Buy-to-Let, is designed to appeal particularly to first-time buyers and those with lower deposits.

Anth Mooney, Marketing Director at Northern Rock plc said, “This reduction to our mortgage application fee is great news for customers who are looking to keep their purchase costs low.

“There are lots of elements involved in buying a new home and this is one way Northern Rock is helping to keep things as straightforward and affordable as possible for our customers.”

Northern Rock plc offers a range of residential mortgages to suit every purchase customer. Everyday mortgages offer customers simple, straightforward mortgage deals with competitive rates and the ability to make overpayments of up to 10% each year as well as the option to apply for payment holidays.

The company also offers a Flexible range, which offers customers the chance to apply to use more of Northern Rock’s flexible features such as unlimited charge-free overpayments, underpayments or borrowing back overpayments. Mortgages across both the Everyday and Flexible ranges are offered up to 85% LTV.

Northern Rock plc continues to offer a choice of Fee Saver options across its Everyday and Flexible product ranges for customers who are looking to keep their purchase costs as low as possible. And there is also a competitive range of Buy-to-Let mortgages available.

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