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Northern Rock has reduced rates across its mortgage range by almost 1% and extended its £500 cashback incentive to include all buy-to-let products with percentage fees.

Northern Rock’s two-year Everyday fixed rate products with a £995 product fee now start from 2.67% for both purchase and remortgages up to 70% LTV, a reduction of 0.32%.

Its two-year Everyday fixed rates with no product fees, start from  3.19% at 70% LTV.

Northern Rock has also reduced selected mortgage rates across its products at 80% LTV, 85% LTV and 90% LTV.

A 90% LTV two-year Everyday fixed rate mortgage  for purchase customers, is now available from 5.25% with a £995 product fee.

Customers will also qualify for £500 cashback. Or for those who choose its Fee Saver Option, the same term is available at 5.45%.

It says following demand from BTL customers the lender has also extended its £500 cashback incentive on selected residential products, to include all BTL products with a percentage fee.

Selected fixed rates in the Intermediary Exclusive range of mortgage products have also been reduced by up to 0.30%.

Barclays will cut mortgage interest rates tomorrow with over 40% of its Woolwich mortgage products being reduced by up to 0.55%. 

 The rate cuts include a 3-year fixed rate at 80% loan to value, cut from 4.68% to 4.13%.

A reductioncof 0.20% will be made to their 2-year fixed at 80% LTV, and a cut will also be made to the 5-year fixed rate mortgages at 80% and 85% LTV by up to 0.50%.

Other cuts include a 0.20% decrease on their 2-year fixed rate at 75% LTV, now 2.99%.

On tracker mortgages Barclays is making a cut for borrowers at 75% LTV over two years, with a new rate of 1.97% above base rate