Northern Rock cuts fixed rates
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Northern Rock is cutting rates by up to 0.64% on some of its fixed rate deals, with rates starting from 3.65.
From October 26 the Northern Rock product range will include a two-year fixed rate deal at 3.65% at up to 70% LTV and a five-year fixed rate deal at 4.99% again at up to 70% LTV.
At 80% LTV there is a two-year fixed rate deal at 5.39% and a five-year fixed rate deal at 5.99%.
The lender has also decided to offer these two and five-year rates at 80% LTV through its branches as well as through brokers.
Northern Rock has kept its tracker at Bank of England base rate plus 2.19%, currently priced at 2.69%.
Lloyd Cochrane, head of mortgage products at Northern Rock, says: “As these further rate reductions show, we continue working hard to offer a mortgage proposition that meets the needs of both home buyers and borrowers looking to remortgage.”
