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Northern Rock reduces rates

Northern Rock has reduced rates on a large number of its products. In the flexible fixed range, two-year products are now available from 4.49%, three-year products start at 4.59% and five, seven, 10 and 15-year products start at 4.89%. Stepped flexible fixed products now start at 3.49%.

All products within the Together range, which allows borrowing of up to 125% LTV, max 95% secured, 30% or up to 30,000 unsecured, now start at 5.79% for variable and flexible fixed products.

The buy-to-let range has seen the introduction of a flexible tracker for life, with no early repayment charge and a rate of 5.49%, Bank base rate + 0.99%. The two, three, five and seven-year flexible fixed buy-to-let rates have been reduced and also come with a rate of 5.49%. Borrowing of up to 87% LTV is available on all buy-to-let products.

Finally, reductions have been made to all products in the lifetime range, with rates now starting at 5.49%.

All changes will take effect from October 13.

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