Northern Rock launches 80% LTV range
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Northern Rock has launched a range of mortgages today up to 80% LTV exclusively for intermediaries.
The range features a two-year fixed rate for purchase customers at 5.69% and a remortgage two-year fix 5.70%.
There is also a five-year fixed rate at 6.39% for purchase and 6.49% for remortgage.
The purchase deals come with a £595 product fee and the remortgage deals with a £995 product fee, early redemption charges of 4%, in addition to a free basic valuation and standard legal fees. but have the added incentives of free basic valuation and free standard legal fees.
Readers' comments (4)
Mark Watson | 20 Oct 2009 3:40 pm
It is nice to see lenders coming into the market with higher loan to value deals. This gives the client more option especially when underwriting is tight and there are limited lenders to choose from.
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Will Mason | 20 Oct 2009 4:29 pm
It's a shame Northern Rock don't reduce their SVR!!! 4.79% SVR and the public own it!! i thought they want to help homeowners and put money back in their pocket?
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Anonymous | 21 Oct 2009 10:27 am
It is good too see lenders increasing the loan to values this is a clear sign that the market is returning to confidence. But what I cannot understand is that the Bank of England base rate is 0.5% and has been for sometime yet the loans offered are still 5% plus above base, can you really tell me that lenders are feeling the credit crunch NO WAY
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john forder | 14 Nov 2009 12:46 pm
its an absolute scandal that a decent hard working married man like myself and many others gets shafted by a bunch of greedy banking a@#~@;@~!! It seems like we are going to bail these urchins out of trouble again, Why did the government not nationalise the bank when they lent them all are money?? It is disgusting!! Dont forget working people after xmas we are going to have to pay for all this. It seems like the honest tax payer is constantly footing the bill for all these cock ups made by these idiot bankers and their ill fiting suits. Imprison the lot of them, Nationalise the banks and leave the little working man alone. We need more individual deals as opposed to the bracket system of LTV. Thank you
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