Northern Rock has made some changes to its mortgage range with residential Tracker rates now at 2.79% and residential Fixed rates at 3.75% for customers looking to purchase a home.

Residential Fixed Rate products have been reduced by up to 0.30%, while Buy-to-Let rates have been reduced by up to 0.60%.

Product Fees have also been reduced by £400 from £995 to £595 for residential purchase customers.

The new two-year Flexible Tracker mortgage is available to residential purchase customers for 2.79% (BOE + 2.29%) with a £595 Product Fee at 70% LTV, or at 75% LTV for 3.29% (BOE + 2.79%). The same product is available with no Product Fee for 3.79% (BOE + 3.29%), to 70% LTV, or at 75% LTV for 4.09% (BOE + 3.59%).

Two-Year Flexible Fixed Rate mortgages for purchase customers are now available from just 3.75% at 70% LTV and 4.39% at 75% LTV, all with a Product Fee of £595.

Customers who choose a Fee Saver Option can take advantage of an LTV of 70% at 4.79% and 5.09% available up to 75%.

Five-year Flexible Fixed Rates are also on offer to residential purchase customers starting from 5.39% with a £595 Product Fee, or from 6.19% with no Product Fee for loans up to 70% LTV. Customers looking for an LTV of 75% on the same product can opt for a rate of 5.89% with a £595 Product Fee, or the Fee Saver Option of 6.69%.

Main Points
- Two-year Flexible Fixed Rates for residential purchase customers from 3.75% up to 70% LTV
- Two-year Flexible Tracker Rates for residential purchase customers from 2.79% (BOE + 2.29%) up to 70% LTV
- Product fees for residential purchase customers reduced by £400 – now £595

Remortgage products are also available and come with the added incentives of free basic valuations and free standard legal fees. Headline Fixed rates for remortgage customers start from as little as 3.94% up to 70% LTV with a Product Fee of £995.

Anth Mooney, Director of Marketing at Northern Rock said: “Our revised mortgage range and new products demonstrate how keen we are to attract new customers, in line with our low-risk appetite and competitive framework arrangements. Northern Rock offers a range of mortgage products designed to meet the needs of borrowers and the new range improves our overall proposition.”