Northern Rock has slashed its mortgage application fee for borrowers looking to buy a new property by 60 per cent.
The move, which will take place on August 23, will cut the application fee from £250 to £99.
The lender’s purchase range includes both fixed-rate and tracker products as well as buy-to-let products.
Marketing director Anth Mooney says: “This reduction to our mortgage application fee is great news for customers who are looking to keep their purchase costs low.
“There are lots of elements involved in buying a new home and this is one way Northern Rock is helping to keep things as straightforward and affordable as possible for our customers.”
The move comes a week after the lender announced up to 60 per cent rate reductions on its buy-to-let range.