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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.

 

Loyalty and interest rates

Our Standard Variable Rate for mortgages is currently 4.79% and our Loyalty Rate for qualifying customers is 4.54%*.

Here are some frequently-asked questions about loyalty and interest rates.

 

What is the Northern Rock Loyalty Rate and how do I qualify for it?

The Northern Rock Loyalty Rate is a discount of 0.25% from our Standard Variable Rate and applies if you meet the following criteria:

  • you are an existing residential Northern Rock mortgage customer and have held your mortgage with us on the same property for seven years, and
  • your mortgage payments are up-to-date, and
  • you do not currently benefit from a special rate such as a fixed or tracker rate, and
  • you are not currently within an early repayment charge period

In this section

 

I have a Tracker mortgage. When will my interest rate be amended following a change to the Bank of England Base Rate?

If your mortgage interest rate tracks the Bank of England Base Rate, it will be increased or decreased in line with any change to the Bank of England Base Rate

Your interest rate will be reviewed the first day of the month following any change to the Bank of England Base Rate, with the new interest rate taking effect from the first day of the month following the review. Please refer to your Offer of Loan for the full terms and conditions of your mortgage deal.

We will write to you ahead of any change being made to the interest rate that is applied to your mortgage.

 

My Northern Rock mortgage has a Base Rate guarantee. How does a Bank of England Base Rate change affect me?

We will continue to honour all Base Rate guarantees where applicable.

Where a mortgage has a Base Rate guarantee the interest rate charged will be amended the first day of the month following any change to the Bank of England Base Rate. Please refer to your Offer of Loan for the full terms and conditions of your mortgage deal.

We will write to you ahead of any change being made to the interest rate that is applied to your mortgage.

*Correct as at 21 May 2012.

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: