Northern Rock

Fixed: your initial rate will be fixed for an agreed period. Your rate will be determined by the length of the fixed rate period and the mortgage product you choose. After the fixed rate period has finished the mortgage will revert to Northern Rock’s standard variable rate.

An early repayment charge may apply. An arrangement fee is applicable.

Flexible: this type of mortgage allows for flexibility in its repayments. You can make underpayments and even take payment holidays as long as you have made previous overpayments. You can combine this type of mortgage with others, such as fixed and variable, to get a competitive rate and flexible features.

Tracker: your mortgage rate is linked to the Bank of England base rate. It will be set at a rate just above it for an agreed period. A change in the interest rate will be passed on to your mortgage.

An early repayment charge may apply. An arrangement fee is applicable.

Cash Back: when your mortgage completes you will receive a one off lump sum payment from Northern Rock. The amount will depend on the size of your loan. You can then use this money to decorate your new property, take a holiday or pay for other expenses.

An early repayment charge may apply. An arrangement fee is applicable.

Offset: this type of mortgage is called ‘Connections mortgage’ – it is linked to your savings and/or current account. You can use the interest earned on your accounts to reduce your mortgage balance. This could mean your repayments are less. You can still withdraw money form your savings accounts. This type of mortgage is combined with a tracker mortgage.

There is no early repayment charge.

Together: this type of mortgage gives you the money to buy your house and provides you with a cash reserve as well at the same interest rate. It combines a secured mortgage with an unsecured loan. This can be worth up to 125% of your home’s value.

You can combine this with a fixed or variable rate mortgage product. An early repayment charge may apply.

If you are interested in a mortgage quotation including those offered by Northern Rock please complete our quick enquiry form.