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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.”

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  • Mark Stroud 20th August 2010 at 1:52 pm

    That’s great news as I really try to support this lender as they dont dual price but always found the fees a little high. I am getting lots of calls from BDM’s who are quiet so it will niec to tell them the business is going to NR.

  • rog 20th August 2010 at 12:36 pm

    love the comment – reduce fee to help customers…..what they mean is, “reducing upfront fees as they are so out of line with competitors and we are quiet so we want some business”