Northern Rock fixed-rate mortgage 'extremely competitive'

Date:Monday 11th October 2010
Author: Max Freedman

A new Northern Rock fixed-rate mortgage has been described as a great deal, offering customers value for money.

These comments were made by head of mortgage products at Legal & General Martyn Smith, who suggested the arrangement could offer people peace of mind in the current uncertain economic climate.

"This product is extremely competitive and gives advisers an opportunity to take advantage of the continuing low base rate," he said.

Mr Smith made his remarks about a Northern Rock fixed-rate mortgage available on a two-year term at 2.89 per cent interest.

It is available at up to 70 per cent loan to value for purchase and remortgage, with the product only on offer from advisers who are part of Legal & General's mortgage network.

Last week, pointed out that the base rate has been at a constant level for 19 months, which is the longest time this happened since the second world war.