Northern Rock has launched a range of 90% LTV Everyday mortgages aimed at first-time buyers.

The state owned bank has launched a two-year fixed rate deal at 5.99%, a three-year fixed rate at 6.49% and a five-year fixed rate at 6.59%.

The products are available via branches, call centre and selected intermediary partners. There are no product fees on any of the new 90% deals.

Northern Rock has also cut interest rates across the rest of its mortgage range, with Everyday Fixed rates for customers with deposits of 25% and 30% reduced by up to 0.19%,

Everyday trackers for those with deposits of 25% and 30% have been cut by up to 0.30%, two-year fixed rate buy-to-let deals reduced by 0.60%, and longer term buy-to-let deals by 0.20%.

Northern Rock has also introduced a new service proposition, to help customers take their first steps onto the property ladder.

Andy Tate, Northern Rock’&’146s customer and commercial director, said: “&’147Our new products