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Up to £500,000 90% LTV

Up to £1,000,000 80% LTV

Mortgages are Portable,

Mortgages are Flexible, Under payments allowed, Overpayments allowed.

For details of Northern Rock's porting policy, please contact Northern Rock.

Once a customer has had their mortgage with us for 7 years, a loyalty discount is available, this will be at least 0.25% off Northern Rock's Standard Variable Mortgage Rate for the rest of the life of the loan. This is providing that mortgage payments are up to data. They do not continue to benefit from a special rate (such as a product discount, a guaranteed rate, or fixed rate) or other product benefit (such as a cashback) and they are not within an Early Repayment Charge period.

This mortgage includes a facility for additional secured borrowing. You can apply for additional borrowing at any time. Approval will be subject to your circumstances and lending criteria.

Loyalty Discount of 0.25% off SVR applies after 7 years, or after the product period if longer, providing payments are up to date.

Product is not CAT standard.

Payment Holidays Allowed. Following 9 full consecutive monthly payments you may apply for a one-month mortgage payment holiday. This may be applied for once in every 12 month period following completion of your mortgage. If you choose not to take a payment holiday in any given 12 month period, you may accumulate the right to take up to a maximum of 3 payment holidays in any 12 month period. In certain circumstances Northern Rock will consider applications for payment holidays of up to 6 months. For example to coincide with maternity/paternity leave.

All payment holidays are subject to Northern Rock prior agreement. You should note that interest will continue to be charged during a payment holiday.

Borrow Back Allowed. If you make overpayments totalling at least £500, then subject to Northern Rock's prior agreement, you may be able to borrow back some or all of the amount overpaid, provided that the amount requested is at least £500.

You are permitted to make overpayments on this mortgage.

Following receipt of a regular overpayment or a lump sum repayment, the amount that you owe and the amount of interest that you pay will be recalculated with effect from the following day. There are no Product Early Repayment Charges applicable to overpayments.

If you make overpayments, you can at any time, make a lower monthly payment or stop your monthly mortgage payment until such time as you reach the amount previously overpaid. This is subject to Northern Rock prior agreement.

This mortgage includes a facility for additional secured borrowing. You can apply for additional borrowing at any time. Approval will be subject to your circumstances and the Lending criteria.

THIS WILL INCREASE THE AMOUNT OF BORROWING SECURED ON YOUR HOME.

Capital Rest Period : Daily

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

None

Basic:

upto £60,000 - £360

upto £100,000 - £380

upto £150,000 - £410

upto £200,000 - £435

upto £250,000 - £460

upto £500,000 - £520

upto £750,000 - £575

upto £1,000,000 - £620

upto £1,500,000 - £750

upto £2,000,000 - £900

upto £2,500,000 - £1050

upto £3,000,000 - £1200

Homebuyers:

upto £60,000 - £515

upto £100,000 - £555

upto £150,000 - £595

upto £200,000 - £640

upto £250,000 - £685

upto £500,000 - £750

upto £750,000 - £800

upto £1,000,000 - £850

upto £1,500,000 - £1050

upto £2,000,000 - £1250

upto £2,500,000 - £1450

upto £3,000,000 - £1750

Early repayment charge only applies on full redemption.

For loans where the advance exceeds £1million, and additional desktop valuation will need to be carried out for a fee of £75.

Added fees will not be included in this calculation.

Insurance Admin - £25.00 Payable on completion.

Lenders Conveyancing Fee - £300.00 Payable on completion. Legal fees due to your solicitor for acting on Northern Rocks behalf in setting up this mortgage. This fees are payable at the time your mortgage starts and are not usually refundable. The figure quoted is an estimate and relates only to this part of the legal work. You should ask you solicitor for further details.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop No

Maisonette Refer

Studio Flat No

Flying Freehold No

Thatched Yes

Timber Framed No

Concrete Refer

Agricultural Tie No

Flat Over 4 Storeys Consider

Listed Building Yes

Max Discount% 100

Max Market Value% 95

New Build acceptable. Loan to Value - Maximum Home Purchase / Remortgage (valuation or Purchase price, whichever is the lower).

Ex council houses accepted if 50% minimum in owner occupation, no local authority blocks of flats.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements 1 months

At Least 3 Months Pay Slips Yes

P60 Yes

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References Yes

Buildings Conditional

Min Loan

Max Loan £500,000

Max Portfolio of BTL Loans £3,000,000

Min Age 18 years

Max Age none

Min Term 7 years

Max Term 35 years

Foreign Citizens Not Accepted

Ex-Patriates Not Accepted

Based on Income > 1

3.5 + 1 or 3.2 joint

Based on Income > 17500

4 + 1 or 3.7 joint

Based on Income > 32500

4.5 + 1 or 4.2 joint

Min months in current position none

Min months in continuous service none

Min no. of years accounts 3

Average years taken to calculate income 3

Will consider declining profit Refer

Income multiples are the maximum that are allowed, they are dependent on credit score and basic income.

The income verification differs depending on credit score - refer to Northern Rock.

Score High Credit Score Medium Credit Score Low Credit

Single Joint Single Joint Single Joint

Gross Income

Over £32,500 4.5 4.2 4.2 4.0 3.6 3.0

£17,501 - £32,500 4.0 3.7 3.8 3.5 3.4 2.8

£0 - £17,500 3.5 3.2 3.3 2.8 2.9 2.1

Customers with LTV greater than 70% (including all applications for first time buyers and where the property is worth less than £100,000).

High Credit Score: Employed- Last monthly payslip or two weeks payslips.

Self employed: accountant certificate or last two years’ accounts or last two years’ tax assessments.

Medium Credit Score: Employed two of the last six monthly payslips, plus last P60. If paid weekly four of the last eight weeks payslips, plus P60. Self employed: accountant certificate or last two years’ accounts or last two years’ tax assessments.

Low Credit Score: Employed three of the last six monthly payslips, plus last P60, if paid weekly four of the last 8 weeks, plus last P60. Self employed: accountant certificate or last three years’ accounts or last three years’ tax assessments. In addition last mortgage statement or lender reference.

Customers with LTV up to and including 70%

High and Medium Credit Score:- Fast Track guaranteed for eligible customers, see Fast Track Lending criteria. Confirmation of identity and affordability is required for on line and paper applications you must complete the confirmation of identity and affordability sections of the application form. For Northern Rock online applications you must tick the relevant boxes on submission of a full application.

Low Credit Score: Employed three of the last six monthly payslips, plus last P60, if paid weekly four of the last 8 weeks, plus last P60. Self employed: accountant certificate or last three years’ accounts or last three years’ tax assessments. In addition last mortgage statement or lender reference.

The additional case information required for Low Credit Scores will also be required for all first time buyers. Customer with a low credit score are no longer eligible for Fast Track guarantee. For loans over £500,000 a high credit score will be required. For customer employed for less than six months an employers reference will be required

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft NOT Taken into account

Credit/Store Cards NOT Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 50% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular No

Investment Income No

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 100% to income before multiply

Non Contributory Pension No

Car Allowance Add 100% to income before multiply

CCJs : Refer to lender

Defaults : Refer to lender

Arrears : Refer to lender

Bankrupt : Refer to lender

Current IVA : Refer to lender

Repossession : Refer to lender

A credit check will be made on all applicants and the loan will be declined where an adverse credit history is registered. In addition, credit scoring will be used as part of the decision-making process.

- The Lender will judge customers with previous or existing adverse credit in a flexible manner and every case will be judged on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into account his/her existing liabilities.

- The Lender will consider cases of financial difficulty and mortgage arrears sympathetically.

- The Lender follows the general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and Possessions, including :

a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears, consistent with both your interests and those of the Lender.

b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with you have been unsuccessful.