Mortgage News
Northern Rock cuts rates by up to 0.50%
Northern Rock has cut interest rates across Everyday residential fixed and tracker deals, and its buy-to-let products by up to 0.50%.
Its two-year residential fixed rate mortgages start from 3.10% up to 70% LTV for purchase and remortgage, with a £995 fee. Borrowers can also opt to pay no fee for a rate of 3.55% up to 70% LTV.
In addition, Northern Rock has lowered rates on its 80% and 85% LTVs, with its two-year fixed rate mortgage up to 80% LTV for purchase customers now 4.08% with a £995 fee.
The lender has reduced also rates on selected fee saver option deals, with Everyday fixed rate mortgages with no product fee starting from 3.55% for a two-year fix up to 70% LTV.
Northern Rock’s product fee-free Everyday trackers start from 2.88% up to 70% LTV.
Meanwhile, three-year tracker rates for purchase borrowers will now match the interest rates on Everyday two-year tracker mortgages, while selected three-year tracker rates for remortgages have been reduced.
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In addition, Northern Rock’s Everyday buy-to-let two-year fixed rates now start from 4.29% at 60% LTV, with a 2.5% product fee.
Everyday products allow overpayments of up to 10% each year, payment holidays and have early repayment charges of 4% for the fixed rate period.