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Northern Rock launches 90% LTV Sesame exclusive

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  • 03/03/2011
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Northern Rock launches 90% LTV Sesame exclusive
Northern Rock has launched a range of 90% LTV fixed rate deals from 5.99% exclusively through Sesame.

The range includes two-, three-, and five-year fixed rate mortgages for purchase customers up to 90% LTV, with interest rates starting from 5.99%.

The mortgages will initially be exclusively available to appointed representatives of the Sesame Network, as well as direct through Northern Rock.

Interest rates start at 5.99% for a two-year fixed rate, 6.49% for a three-year fixed rate and 6.59% for a five-year fixed rate.

The deals have no product fees and an application fee of £99. The maximum loan amount is £500,000.

Early repayment charges of 4% for the term apply across the range, with 10% overpayment allowed each year.

Robert McCoy, senior product and communications manager at Sesame, said: “This is an excellent rate for house purchase customers. We expect the two-year deal in particular to be very popular. This is a great opportunity for to help some first-time buyer clients get on the property ladder, as well as second-time movers who have limited deposits or equity in their current property.”

Richard Tugwell, head of sales at Northern Rock, said: “These products have been designed within our prudent risk appetite with affordability for customers a key consideration. Intermediaries remain an important part of our distribution strategy.”

 

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