Discounts from Northern Rock

IN THE wake of this week's interest rate cut, many lenders are still reviewing their rates.

Northern Rock has introduced a series of discounts related to the proportion of the property value which the housebuyer wants to borrow.

The Northern Rock discounts are planned to last until 1 June 1994.

The Woolwich three-year 6.95 per cent rate is available on 90 per cent loans but is restricted to endowment and pension mortgages. The redemption penalty is three months interest.