Northern Rock cuts product rates

The new rates, with no extended early repayment charge, now start at 4.89%.

Flexible Base Rate Tracker rates have been reduced by 0.2% and now start at 4.99% (BoE + 0.24%) with a 2% early repayment charge within the incentive period only.

The same reduction has been applied to the Lifetime Fixed range. The Protected Equity mortgage is now available at 6.29%, with the lump sum and monthly cash release products at 5.99%

In addition, a new 120% LTV tier has been introduced on the Together range with a rate of 5.89% with an arrangement fee, or 6.19% without.

All changes take effect immediaitely.