Northern Rock slashes rates

The 2-year everyday fixed rates with a £995 product fee now start from 2.67% for both purchase and remortgage customers with a 30% deposit - a reduction of 0.32%.

The 2-year everyday fixed rates with no product fees start from 3.19% at 70% LTV.

The lender has also reduced selected mortgage rates across its products at 80% LTV, 85% LTV and 90% LTV.

A 2-Year Everyday fixed rate mortgage at 90% LTV exclusively for purchase customers is now available from just 5.25% with a £995 product fee.

Customers will also qualify for £500 cashback. For those who choose the fee saver option the same term is available at 5.45%.

Following demand from buy-to-let customers the lender has also extended its £500 cashback incentive on selected residential products, to include all buy-to-let products with a percentage fee.

Selected fixed rates in the intermediary exclusive range of mortgage products have also been reduced by up to 0.30%.

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