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Mortgage rates change with Northern Rock

Mortgage rates change with Northern Rock
Northern Rock will be repricing their range of residential mortgages from 28 July 2008. The best rates will be available to customers who are able to provide a 25% deposit, which represents a small relaxation from a previous threshold of 70% loan to value.

New customers looking to purchase a residential property can expect to be offered a choice between two-year and five-year fixed rate products with either a £995 product fee or a Fee Saver Option, starting from 6.24%.

The new range will also include remortgage products that offer to cover a free basic valuation and free standard legal costs. Customers looking to remortgage to Northern Rock from their current provider will have the choice of two-year and five-year flexible fixed rates, with either a £995 Product Fee or Fee Saver Option. Remortgage fixed rates will be available from 6.34%.

Buy to let mortgages are unchanged for both remortgage and purchase customers, and continue to offer a choice between two-year Flexible Fixed rates and Tracker for Life products, with rates starting from 6.69%.

Lifetime mortgages remain available at a fixed rate of 6.99% with a £595 Product Fee, and provide three options of either lump sum, monthly cash release or a combination of the two. Northern Rock continues to be the only provider of a monthly cash release plan for the lifetime of the loan.

Northern Rock continue to restrict lending to new customers only, as none of the range of mortgages is available to existing customers.


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UK Financial Solutions does not provide any financial advice relating to mortgages, loans or any other products, and the information on this website should not be considered financial advice. UK Financial Solutions is a free service acting as an introducer to David Whitehouse Associates Ltd who are an Appointed Representative of Lifetime Insurance Mortgage Experts Limited which is Authorised and Regulated by the Financial Services Authority. The UK Financial Solutions website is free to use but we may receive commission from David Whitehouse Associates Ltd for introduced business. Users of the mortgage service will receive free advice and the advisor may be paid a commission by the lender. Fee based advice is available as an option.
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