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Learn about mortgages

We know there's a lot to think about when choosing a mortgage, but don't worry, we're here to make the whole process as simple as possible for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

 

Everyday mortgages

Our Everyday mortgage range includes our lowest priced mortgage rates and offers the following flexible features:

 

Limited overpayments

You are able to make overpayments of up to 10% of your outstanding balance per calendar year without incurring an Early Repayment Charge.

Any overpayments will immediately reduce the loan outstanding, resulting in a saving in the amount of interest charged.

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Payment holidays

You may apply for a one month payment holiday for every nine consecutive full monthly payments you make. The maximum payment holiday period is three months, which can be applied for once you have made 27 consecutive full monthly payments.

Interest will continue to be charged during a payment holiday. Taking a payment holiday will also increase the outstanding balance upon which future loan interest charges are calculated.

When deciding if we will allow a payment holiday, we will assess your ability to repay the revised total mortgage balance and the associated monthly payments, based on your individual circumstances at the time. This will include an affordability assessment, which may require income verification. All payment holidays are subject to Northern Rock's prior agreement.

If you require a little more flexibility, you may be interested in our range of Flexible mortgages. These Flexible products allow you to take advantage of a full range of mortgage features including unlimited overpayments, the ability to apply to borrow back, underpayments and payment holidays.

Please note that all flexible mortgage features are subject to terms and conditions.

Why choose Northern Rock?

We'll help you find our best mortgage for your needs and ensure that everything runs as smoothly as possible from beginning to end.

Protect your home

Did you know that we, together with our chosen partners, offer insurance products such as: