Northern Rock cuts product rates

Intermediary exclusives include a 3-year fixed rate fee saver option at 70% loan to value reduced to 3.15%; a 2-year and 5-year fixed saver option at 70% LTV; and a 2-year buy-to-let fixed rate at 70% LTV with a £2,495 product fee.

Selected buy-to-let fixed rate mortgages have been reduced by up to 0.30% and selected buy-to-let 2-year trackers have been reduced by up to 0.41%.

Residential 3-year fixed rates have been reduced by up to 0.13% with rates starting at 3.09% with a £995 product fee and 5-year fixed rates have been reduced by up to 0.25% with rates starting at 3.75% with a £995 product fee.

The refreshed rates follow product withdrawals yesterday which included a 90% LTV intermediary exclusive 2-Year fixed rate at 4.95% with no product fee and its 75% LTV Intermediary Exclusive 3-year fixed rate at 3.29% with £995 fee.

Commenting Lloyd Cochrane, head of lending products at Northern Rock, said: “We are continuing to support the mortgage market with a range of deals to suit all types of customer.

“We offer attractive deals for borrowers with deposits of whatever size, with a number of terms and rate options also available, whether you are looking for a buy to let investment, or a new home for your family.

“We continue to offer a variety of products designed exclusively for the intermediary sector with competitive rates and features.”