Northern Rock has launched a new fixed-rate mortgage product designed to offer increased customer choice.
The building society's Two Year Flexible Fixed mortgage has a 1.5 per cent arrangement fee and no extended early repayment charge for loans over £100,000.
Rates for the loan start at 3.99 per cent.
Rates are calculated according to the ratio of the loan against the value of the property (LTV), giving customers "a variety of choice", according to Northern Rock.
A spokesperson for Northern Rock said: "We continue to offer a competitive range of mortgages with a variety of choice for all types of borrowers in keeping with our commitment to openness, transparency, and fair treatment of customers.
"Our flexible mortgage products offer features such as unlimited penalty free overpayments down to £1, underpayments, borrow back facility at the product rate and payment holidays - all without extra charge."
Customers who want to borrow up to 95 per cent of the LTV, two and three year Flexible Fixed rate products are available from 5.19 per cent and five, seven, ten or 15 year rates from 5.49 per cent.
All Northern Rock mortgage products offer daily interest calculation.To read more about Mortgage News, click here.
© Adfero Ltd