Northern Rock offers three-year exclusive via PMS

Northern Rock has launched an exclusive three-year fixed rate via PMS.

The product is 4.19% (APR 5.0%) fixed until 01/04/2012 and is available up to 65% LTV.

An arrangement fee of £995 is payable, but can be added to the loan.

For remortgage clients the product includes a free standard valuation and the lenders free legal transfer service.

The early repayment charge of 4% until 01/04/2012 is only applicable on full repayment, so the clients can make unlimited penalty free overpayments during the product period providing at least £1 remains on the account.

Martin Reynolds, development director, at PMS, says: “We are delighted that they have chosen PMS as their sole partner for an exclusive product and our three-year deal looks an attractive product and provides a stable option in the current uncertain market.”