Northern Rock – UK Mortgage Lender
The Northern Rock Building Society was created in 1965 by the merger of the Northern Counties Building Society (founded in 1850) and the Rock Building Society (founded in 1865). Northern Rock demutualised in 1997 to become a public limited company. The company is the largest financial institution in north east England and the fifth largest mortgage lender in the UK.
The company has 66 branches throughout the UK.
Fixed Rate Mortgages: 1.5 year, 2 year, 3 year and 5 year fixed rate mortgages and remortgages.
Tracker Mortgages: 2 year, 3 year, 5 year and lifetime base rate tracker mortgages and remortgages.
Flexible Mortgages: 1.5 year, 2 year, 3 year, 5 year, 10 year and 15 year mortgages with options for underpayments, overpayments and payment holidays.
Standard Variable Rate Mortgage: a variable rate mortgage where monthly repayments go up and down in line with the lender’s base rate.
Together Mortgages: a combination of a mortgage up to 95 percent LTV with an unsecured loan of up to £30,000 at the same interest rate as the secured mortgage loan.
Equity Release Mortgages: lifetime fixed rate mortgages are available for over 60s wishing to release capital from their homes.
As well as offering the usual range of mortgages such as variable, fixed and equity release, Northern Rock has developed an innovative Together mortgage that allows borrowers the opportunity to combine the mortgage required for a property with any unsecured debts to make more manageable monthly payments. The total amount available is up to 125% of the value of the property.