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Northern Rock cuts mortgage application fee by 60%

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.

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