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Northern Rock launches competitive fixed-rate deals
18 November 2008 16:50
Government lender Northern Rock has launched a new range of competitively priced fixed-rate mortgage products.
New customers can secure a one-year fixed-rate deal at 3.99 per cent including a 65 per cent loan-to-value, for a fee of £995.
What's more, borrowers will be offered the chance to fix their interest rate and monthly payments from a choice of medium and long term products, while loan-to-value amounts will also be tiered up to 85 per cent.
Rob Kileen, managing director at Capital Fortune told moneymarketing.co.uk that Northern Rock should be proud for coming out with such a competitive product.
He added that things were looking much more competitive for the government-owned lender and the financial sector in general.
At a fixed-rate of 6.59 per cent and a £595 product charge, Northern Rock's Lifetime mortgage range remains unaltered.
Earlier in the week, Rightmove suggested that sellers should cut their asking prices if they wish to make a sale during the current economic climate.
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