Northern Rock has announced its new range of mortgage products offering a free basic valuation and free standard legal work for residential remortgages.

New residential mortgage customers can choose to fix their interest rate and monthly payments from a choice of 2, 5, 10 or 15 years. Residential fixed rates start from 5.35% with a £1,995 product fee.

New residential mortgage customers who are looking for a flexible fixed rate product have the option of choosing a product fee from several tiers, which range from £1,995 to a Fee Saver Option.

Northern Rock’s Buy to Let product range is available to both remortgage and purchase customers. Customers can choose between 2 Year Flexible Fixed rates, from 6.49% with a 2.5% fee, and Tracker for Life products. Buy to Let customers now have the option of an additional product range up to 60% LTV.

The Lifetime mortgage range also remains unchanged at a fixed rate of 6.59% with a £595 Product Fee.

Current residential mortgage products are not available to existing customers.

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 qualifying criteria).
* A Fee Saver Option available on most products.
* No overhanging Early Repayment Charges on any Northern Rock mortgage product.
* No Higher Lending Charge