Rates start at 4.89 per cent for its flexible tracker rates and standard two-year flexible fixed rate mortgages. Its flexible tracker life mortgages start at 4.99 per cent.
In the ‘Together’ mortgage range, a rate of 5.99 per cent is available as standard, with a product fee of £795. Customers can opt for a variable rate or fix the rate for two, three, five or seven years. The range combines a secured loan and an unsecured loan, with one monthly payment.
Allison Thompson, marketing director at Northern Rock, said: “These improvements are great news as even more customers will be able to benefit from our headline rates. We currently offer some fantastic products such as our two-year flexible fixed rate at 4.89 per cent and our ‘Together’ range, offering a combination of secured and unsecured lending up to 125 per cent of the property value, with rates now from a standardised 5.99 per cent.”
Other features include; a fee-saver option, help with costs option, no higher lending charge (HLC) and no extended early repayment charges (ERCs). In addition all products have fully flexibility features. A daily interest calculation enables customers to make unlimited penalty free overpayments, underpayments, borrow-back overpayments and the option to take payment holidays, even if they have not previously overpaid.
New buy-to-let (BTL) and lifetime mortgage products are also available from the lender.
Kevin Paterson, managing director at Park Row Mortgages, commented: “Northern Rock is very sensitive to the needs of intermediaries. Indeed, I believe most mainstream brokers would say their top lender was Northern Rock. Rates of 4.89 per cent are very competitive, especially with swap rates going up and the threat of the Bank of England Base Rate (BBR) increasing.”
