Northern Rock cuts mortgage rates by up to 0.60%
Northern Rock has improved its mortgage range for both purchase customers and those looking to remortgage.
Everyday Fixed rates for purchase borrowers now start from just 2.88%, the lowest 2 Year fixed rate the lender has offered on its core range so far during 2010. And combined with the recent reduction in its application fee, Northern Rock is helping to make it more affordable for those looking to buy a new property.
As well as the changes to the purchase range, Northern Rock has also cut rates across its remortgage products, with 2 Year Everyday Fixed rates starting from just 2.98% (previously 3.09%) up to 70% LTV.
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.
Rates for those with smaller deposits have also been slashed, with Everyday 2 Year Fixed rates for purchase customers with a 15% deposit (85% LTV) available from just 4.38% with a £995 product fee (previously 4.89%), and Everyday 2 Year Fixed rates for purchase customers with a 20% deposit (80% LTV) available from 3.98% (previously 4.39%).
Northern Rock continues to offer a choice of competitive Fee Saver options across its range of residential mortgages for customers who are looking to keep their costs as low as possible. 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.
Northern Rock offers a free basic valuation (excluding non-standard work) and free standard legal costs on residential remortgage cases. And there is also a competitive range of Buy-to-Let mortgages available.
Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission. Full details of the product range are included for information.
More information is available on Northern Rock’s website, visit northernrock.co.uk/Mortgages.