Northern Rock launches 90 per cent LTV fixes
Within the intermediary market, the products are initially exclusively available to the appointed representatives of the Sesame Network. The products will also be available directly through Northern Rock.
The rates start at 5.99% for a 2 year fixed rate, 6.49% for a 3 year fixed rate and 6.59% for a 5 year fixed rate. No product fee is payable on any of the products, which have a £99 application fee.
Commenting, Robert McCoy, senior product & communications manager at Sesame said: “This is an excellent rate for house purchase customers. We expect the two-year deal in particular to be very popular. This is a great opportunity for our Sesame network members to help some of their first time buyer clients get on the property ladder, as well as second time movers who have limited deposits or equity in their current property.”
Richard Tugwell, head of sales at Northern Rock said: “We are pleased to be able to introduce these products, which have been designed within our prudent risk appetite with affordability for customers a key consideration. Intermediaries remain an important part of our distribution strategy.”