Northern Rock announces rate cuts on buy to let mortgages

Landlord Expert
By Landlord Expert August 3, 2010 11:58

As such, the interest rates were cut everyday residential mortgage deals, whereas charges were reduced on buy to let products.

At the moment, Northern Rock offers 5-year residential mortgages at 4.39% and 4.50% for borrowers with 30% and 25% deposits accordingly. The lender's 2- and 3-year mortgages are available at 3.15% and 4.10%. The deals also feature payment holiday and overpayment options.

Buy to let mortgage offers by Northern Rock have seen fees reduced by 0.5% to 2%. The interest rate on 2-year loan has also been decreased to 5.69% for borrowers with a 30% deposit.

Let us remind that Northern Rock always tried to position itself as the most flexible lender by allowing borrowers to apply for various options, such as unlimited underpayments, overpayments, and more. The bank currently operates under the competitive constraints set by the European Commission.

Landlord Expert
By Landlord Expert August 3, 2010 11:58

Membership Login

Register| Forgot Password?

Recent Member Comments

  • Philip Haworth { Is there a letter to raise order for possession of the property. }
  • User AvatarLandlord Expert { We do not know of any issues. There have been 3 questions submitted today and have been published although I see none for you. Providing... } – Apr 20, 4:51 PM
  • User AvatarJazz Sounds { Is something wrong with your site? In your "ask a question" section I am unable to post my question. I am also unable to view... } – Apr 18, 10:37 AM
  • User AvatarDiane Lo { Tenant sublet his room to airnub guest without my knowledge. The airnub guest injured her foot and is now trying to claim compensation from us.... } – Apr 05, 10:55 AM
  • User Avatardenise minton { A boiler at my flat broke and it took 3 plumbers before one finally could have the time to repair it. My tenant was without... } – Feb 13, 9:04 PM
  • Older »

News Archive