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Northern Rock launches 3.99% mortgage

Northern Rock has launched a 3.99 per cent one-year flexible mortgage as Abbey also launches several competitive deals.

The mortgage market saw tentative signs of competition today as Abbey for Intermediaries launched exclusives with 18 mortgage partners and the nationalised lender Northern Rock released a sub-four per cent deal.

The Abbey range includes a two-year fixed product at 4.39 per cent and a three-year fixed at 4.69 per cent, both at 60 per cent LTV.

The Northern Rock deal is at 3.99 per cent for 65 per cent LTV, fixed with full flexibility.

Abbey for Intermediaries key accounts director Adrian Whittaker says: “We are pleased to be able now to offer our intermediary partners a new range of exclusives aimed at ensuring that they have the competitive advantage they need.”

Capital Fortune managing director Rob Kileen says: “Well done to Northern Rock coming out with such a competitive product.

“Things are looking more positive now – we have seen a 20 per cent rise in products on our system in one week. And with the launch of products from ITL Mortgages, its more options and a more upbeat outlook.”

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