Northern Rock has reduced rates in its mortgage range.

It has cut selected rates across its core mortgage range by up to 0.50% and improved its two-year fixed rate deal available exclusively through intermediary partners. The product is now available at 2.99% up to 70% LTV.

All of the remaining reduced deals are available to both purchase and remortgage customers, the latter benefiting from Northern Rock’s usual incentive of a free basic valuation and free standard legal costs.

Northern Rock has reduced rates for customers with a 25% deposit. A two-year Everyday fixed rate deal with a £995 product fee is available at 3.19% up to 75% LTV. The same deal is available without a product fee, priced at 3.65%.

Also up to 75% LTV is a three-year fixed rate mortgage with a £995 product fee at 3.93%, and a five-year deal with a £995 product fee. Those who choose not to pay a product fee, can secure the same product at 4.79%.

Buy-to-let rates start from 3.39% for a two-year Everyday fixed rate mortgage with a 3.5% product fee, up to 60% LTV. Those preferring a flat fee of £1,995 can choose a two-year fixed rate up to 60% LTV, priced at 4.79%.