Latest News
Important News for Northern Rock Fixed Rate Mortgage Customers
Northern Rock today announced it had entered into a three-year commercial agreement with Lloyds TSB.
This new agreement has been set up to provide a streamlined process for some of Northern Rock's fixed rate mortgage customers who are approaching the end of their current fixed rate deal period, to obtain a new mortgage from Lloyds TSB.
Northern Rock customers who meet a certain criteria will be contacted in writing as they approach the end of their fixed rate deal and offered the opportunity to apply for a mortgage from Lloyds TSB.
Tony Rice of TMP Mortgage Zone said: "It is no secret that Northern Rock is keen to reduce the number of mortgage customers it has and this is one way of doing it. However, any Northern Rock customer receiving such a letter does not have to take up the offer of a new mortgage product with Lloyds TSB - and I am sure that Northern Rock will make that clear in the letter they send out."
"However, the advice we give at TMP Mortgage Zone to any customer coming to the end of a fixed rate deal - with Northern Rock or any other provider - is to shop around. As we provide a whole of market service, we can search thousands of mortgages from hundreds of lenders to find the right remortgage for our customers. And if the right re-mortgage in this instance for Northern Rock customers is to stay with Northern Rock or move to Lloyds TSB we will tell them so at no cost."
[ 05-06-2008 ]
