Northern Rock cuts residential and BTL mortgage rates by up to 0.50%

Northern Rock has cut rates by up to 0.50% across its competitive Everyday mortgage range with effect from today, Friday 27 May 2011.

2-Year residential Fixed rates now start at 3.10% at 70% LTV, for both purchase and remortgage customers with a £995 product fee. The same deal without a product fee is available from 3.55% at 70% LTV.

Northern Rock continues to offer support to customers with smaller deposits, and has cut rates on its 80% LTV and 85% LTV products by up to 0.40%. A 2-Year Everyday Fixed rate at 80% LTV for purchase customers is now available at just 4.08% with a £995 product fee.

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.

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 fee 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.

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