Northern Rock cuts mortgage rates for purchase, remortgage and BTL

Northern Rock has reduced mortgage rates for purchase, remortgage and Buy To Let consumers, making many of its products among the strongest in the market.

As well as slashing mortgage rates across its Buy To Let range, rates on the bank’s Intermediary Exclusive products have been cut by up to 0.17%.

The lender has further improved its 2-Year Fixed rate deal available exclusively through Northern Rock’s intermediary partners. The product, with a £995 product fee is now available to both purchase and remortgage customers at 2.89% for those with a 30% deposit (70% LTV).

Alongside these changes, the 3-Year Fixed rate Intermediary Exclusive at 70% LTV with no product fee is now available at 3.82%, and those who wish to secure a 5-Year Fixed rate at 70% LTV with no product fee can do so at 4.45%. Remortgage customers also benefit from Northern Rock’s incentive of a free basic valuation and free standard legal costs.

Competitive Buy to Let rates start from 3.25% for a 2-Year Everyday Fixed rate mortgage with a 3.5% product fee, at 60% LTV. Those with a 30% deposit (70% LTV) can opt for a 2-Year Everyday Fixed rate mortgage with a 3.5% at 3.59%.

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 operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission.