Northern Rock reduces rates on Intermediary Exclusives

Northern Rock has reduced rates by up to 0.12% on its Intermediary Exclusive product range and altered the structure of Early Repayment Charges.

Northern Rock’s two year fixed rates with a £995 product fee will now start from 2.77% for both purchase and remortgage customers with a 30% deposit (70% LTV). Or, for those who wish to keep their fee costs as low as possible, a 2-year fixed rate with no product fee is 3.19% at 70% LTV.

Those who would prefer to fix for longer can choose a new five year FSO at 75% LTV for 4.25%. All of these products are available exclusively through intermediaries registered with a Northern Rock account. Northern Rock’s remortgage products also offer the lender’s standard free valuation and legal package.

Northern Rock has made a number of changes to the Early Repayment Charges across all mortgage products (both core range and intermediary exclusives). Charges are now set at 1% on all Tracker products, 2.5% on two year fixed rates, 3.5% on three year fixed rates and 5% on rates fixed for five years.

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.

For more information, visit northernrock.co.uk.