Northern Rock mortgage rates cut for FTBs

New mortgage rates from Northern Rock

Northern Rock has expanded the Everyday mortgage range which it introduced in earlier this year.
Northern Rock cuts mortgage rates

Northern Rock is today reducing a range of its mortgage rates and is providing loans for borrowers with 20 per cent deposits.

Friday, 26 March 2010 12:00

Northern Rock has reduced rates on a number of its mortgages with the aim of making these deals more attractive to first-time buyers.

Fixed-rate mortgages at an 85 per cent loan-to-value have been cut by up to 1.2 per cent, with the rate on the bank's Everyday range of two-year products down to 5.49 per cent and five-year mortgage rates reduced to 6.49 per cent.

Both of these rates are applicable to those who pay a product fee. Without this fee, they stand at 5.99 per cent and 6.99 per cent respectively.

Lloyd Cochrane, head of mortgage products at Northern Rock, said: "Our latest rate reductions mean we are offering some great deals for customers who only have small deposits."

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