Northern Rock improves buy-to-let range

Northern Rock has launched a competitive new range of Buy to Let (BTL) mortgage products and reduced rates on its existing BTL 2, 3 and 5 Year Fixed rate Everyday mortgages.

The bank has introduced Trackers into its BTL range with rates starting from as low as 3.29% (BoE +2.79%) for a 2-Year Fixed rate at 60% LTV (40% deposit) with a product fee of 3.5%.

2-Year Fixed rates start from 4.09% at 60% LTV with a product fee of 3.5%, and 5-Year Fixed rates begin at 5.79% at 60% LTV with a product fee of 3.5%.

BTL products are also offered at 70% LTV (30% deposit) and a 2-Year Fixed rate option is available at 4.49% with a product fee of 3.5%.

There are three fee structures to choose from, including Fee Saver Options (FSO), a flat fee of either £1,995 or £995, or percentage fees of 2.0%, 2.5% and 3.5%.

BTL 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.

More information is available on Northern Rock’s website northernrock.co.uk/Mortgages.