Northern Rock slashes fees on purchases

Northern Rock is reducing its fees on purchase mortgages by 60% to £99, from next Monday.

The move takes the mortgage application fee for purchase customers down from £250.

The purchase range, which includes both fixed rate and tracker products, as well as buy-to-let, is designed to appeal particularly to first-time buyers and those with lower deposits.

Anth Mooney, marketing director at Northern Rock says: “This reduction to our mortgage application fee is great news for customers who are looking to keep their purchase costs low.

“There are lots of elements involved in buying a new home and this is one way Northern Rock is helping to keep things as straightforward and affordable as possible for our customers.”