Northern Rock has launched a range of mortgage products that includes new variable rate tracker mortgages and additional flexible fixed rate options.

The new 2 Year Flexible Trackers start from 5.79% and are available to both purchase and remortgage customers up to 75% LTV with the option of paying no product fee or securing a lower rate for a £1,995 product fee.

New residential mortgage customers can now choose to fix their interest rate and monthly payments for 2, 5, 10 or 15 years. Residential fixed rates start from 5.89% with a £1,495 product fee or 6.49% under the Fee Saver Option. The new 10 Year and 15 Year Flexible Fixed Rate products for both purchase and remortgage customers are available with no product fee at 6.29% up to 75% LTV.

Northern Rock’s remortgage products offer free basic valuations and free standard legal costs. Customers looking to remortgage to Northern Rock from their current provider will have the choice of a £1,995 Product Fee or Fee Saver Option. Remortgage fixed rates are available from 5.99%.

Northern Rock’s current residential mortgage products are not available to existing customers.

Buy To Let (BTL) mortgages, available to both remortgage and purchase customers, are unchanged and offer a choice between 2 Year Flexible Fixed rates and Tracker for Life products. Rates start from 6.69%.

Lifetime mortgages are now available at a fixed rate of 6.79% with a £595 Product Fee.

Standard features and benefits of Northern Rock’s mortgage range include:

* Full flexibility (excluding Lifetime products) offering daily interest calculation, unlimited penalty free overpayments, underpayments, borrow back at the product rate and payment holidays (subject to meeting qualifying criteria).
* A Fee Saver Option available on all residential mortgage products.
* No overhanging Early Repayment Charges on any Northern Rock mortgage product.
* No Higher Lending Charge.