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Northern Rock offer three and six year fixed rates

Northern Rock


FIXED RATE MORTGAGES


Type: Fixed rate mortgages offering a choice of redemption penalty options.


Fixed terms: Until January 1, 2001 or 2004.


Fixed rates: Option one – 4.59 per cent and 5.89 per cent respectively, option two – 6.59 per cent or 6.39 per cent respectively.


Minimum loan: New purchases – none, remortgages – £25,001.


Maximum loan: Up to 95 per cent of valuation subject to a maximum of £250,000.


Income multiples: Loans up to 75 per cent of valuation – 3.25 times principal income plus second or 2.5 times joint or loans up to 95 per cent of valuation – three times principal income or 2.5 times joint.


Arrangement fee: 1 per cent of loan.


Redemption fee: Option one – two year – 5 per cent in years one to four reducing to 3 per cent in year six and nil thereafter, five year – 5 per cent in years one to five, reducing to 3 per cent in year seven and nil thereafter. Option – two year – 3 per cent in first two years, five year – 5 per cent in first five years.


Conditions: Compulsory buildings and contents insurance otherwise 0.35 per cent added to rate.


Introducer&#39s fee: Negotiable.


Tel: 0845 605 0500.

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