Northern Rock has also reduced rates on its Everyday Buy-to-Let range by up to 0.60% whilst changing the fee structure. Everyday Buy-to-Let 2-Year Fixed Rates for customers with a 30% deposit (70% LTV), now start from 5.59% with a flat product fee of £1,995.
Everyday mortgages offer customers simple, straightforward mortgage deals with competitive rates and the ability to make overpayments of up to 10% each year and the option to apply for payment holidays.
Lloyd Cochrane, head of mortgage products at Northern Rock, said, “Today’s improvements to our product range reduce the monthly mortgage cost for customers with smaller deposits, and make it more affordable for those looking to either buy a home, or remortgage from their existing deal.”
Northern Rock continues to offer a choice of Fee Saver options across its Everyday and Flexible product ranges for customers who are looking to keep their purchase costs as low as possible. Northern Rock also offers a free basic valuation (excluding non-standard work) and free standard legal work on all residential remortgage cases.
Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission. Full details of the product range are included for information.
