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Northern Rock reduces five year mortgage rate

Northern Rock reduces five year mortgage rate

Category: Mortgages

Updated: 09/07/2010
First Published: 09/07/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Northern Rock has reduced the rate of interest it charges to homeowners on a number of its home loan deals.

Catching the eye is the 5.59% five year fixed rate mortgage which is available up to 85% loan-to-value, and has a fee of £995,

Incentives of free valuation and free legal fees for remortgages are also included.

By reducing its five year fixed rate deal at 85% loan-to-value by 0.60% to 5.59%, Northern Rock has strengthened its position amongst its competitors, especially in the intermediary market.

Whilst not the lowest rate in this sector, the reasonable fee of £995 and the incentive packages for remortgages may well offset the difference in rate on the lower priced deal.

Four out of five Moneyfacts stars have been awarded.

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