Northern Rock Mortgages

The Northern Rock is founded in 1997 with a mesh of 55 branches. Presently the UK's 8th greatest bank is the Northern Rock Mortgages and it provides residential mortgages to both retail and wholesale markets. It offers a variable, fixed and flexible rate mortgages and also offers buy-to-let mortgage for landlords and Lifetime Mortgage if user are reaching retirement age. The Northern Rock, Alliance and Leicester and Portman building society are all offering the schemes, which tempt in with a sleazy deal only to lock in to a higher rate after the discount period ends. The lifetime Mortgage allows older people to live in their home without having to worry about monthly payments. The interest is added to the loan and the full amount is paid back when the home is eventually sold. All Northern Rock mortgage offers rates and products on different options.

The Northern Rock Mortgages Options Are:

• Over payments
• Underpayments or borrowing cash
• Payment holidays

The Northern Rock Mortgage provides a very popular option among first time buyers is the Northern Rock together Mortgage. It is a combined mortgage loan and unsecured loan, giving extra borrowing power at the same interest rate in order to equip home and cover the additional expenses of moving house. Northern Rock Connections Mortgage is allows user to link savings, current account and mortgage loans, which can be offset to reduce the interest charges on user's mortgage. The Northern Rock provides cash back mortgage, with a lump sum payment at the end of the loan.

Addeva offers an impartial mortgage loan advice service which is used to advice the Northern Rock Mortgages are right lenders or not. All advisers are FSA qualified and impartial. The Northern Rock has a mortgage that allows a borrower to have up to 125% of the price or valuation of the property. Northern Rock achieved this by allowing up to 95% of the property as a mortgage and up to 30% as an unsecured loan but with the same mortgage interest rate applied across both parts. The Northern Rock allows over payments without penalty, even on fixed rates. Penalties are only payable on full redemption only. In 2006 the Northern Rock was the second largest charitable donor in the FTSE 100 after ITV.