Northern Rock has reduced the rates on certain products within its Everyday range of residential mortgages.

Everyday two-year fixed rates for customers with a 30% deposit start from 3.29%, or 3.68% for customers with a 25% deposit. Both of these deals have product fees of £995 and are available for purchase and remortgage customers.

Everyday three-year fixed rates, which were introduced to the market last month, are available from 4.38% for customers with a 25% deposit and a product fee of £995.

Everyday two-year tracker rates now start from 2.48% (Bank of England rate plus 1.98%) with a product fee of £995, for purchase customers with a 30% deposit.

80% LTV Everyday two-year fixed rates start from 4.59%, or 4.89% for an Everyday three-year fixed rate. Both deals have product fees of £995.

In addition, 85% LTV Everyday two-year fixed rates are available from 5.29%, or 5.59% for an Everyday three-year fixed rate. Both deals have product fees of £995.

Everyday mortgages offer customers the ability to make overpayments of up to 10% each year and the option to apply for payment holidays.