For Northern Rock borrowers whose loans qualify for a loyalty discount after seven years, the new Loyalty Rate will be 7.34% per annum with effect from 1 June 2007 thanks to a 0.25% discount off its Standard Variable Base Mortgage Rate (SVR).
Northern Rock’s SVR will increase by 0.25% from 7.34% to 7.59% pa, with effect from 1 June 2007 for existing borrowers.
Interest rate changes to existing Tracker and Together Variable mortgage customers will take effect from 1 July 2007, in line with product terms and conditions.
Northern Rock savings rates will change with effect from 9 June, including the rate on its Silver Online Account, which increases to 6.00%.
