Northern Rock plans to slash its application fee from £250 to £99 for home buyers from Monday next week.
Northern Rock said this is the start of a series of changes to its fixed, tracker and buy-to -let purchase ranges for first-time buyers and borrowers with smaller deposits.
Anth Mooney, marketing director at Northern Rock, said: “There are lots of elements involved in buying a new home and this is one way Northern Rock is helping to keep things as straightforward and affordable as possible for our customers.”
Northern Rock said it continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission.
