Northern Rock honoured for its community service

Mon, 28 Nov 2011 11:20:11 GMT

Northern Rock has announced that it was commended in the Mortgage Finance Gazette Awards for its dedication to community service. The honours were given just six months after Northern Rock was heralded among the most responsible businesses in the UK.

After receiving Business in the Community's (BITC) national Big Tick for its work to tackle financial exclusion, the readers of Mortgage Finance Gazette have now commended the bank in its annual awards.

The magazine's readers nominated the lender in recognition of its work in the voluntary sector, and the judges, including journalists from the national press, industry experts, and the editors of 'What Mortgage' and 'Mortgage Finance Gazette,' were particularly impressed by the bank's staff involvement in the community as well as other fundraising and voluntary activities.

Representatives from Northern Rock collected the commendation in the 'Community Services Award' for large lenders at an event in the capital last night. The December edition of Mortgage Finance Gazette, a publication about mortgages and the mortgage industry, features coverage of the event.

Northern Rock's Customer and Commercial Director Andy Tate said: "We are absolutely delighted to receive a further commendation for our work in the community, and it is wonderful that our dedication to embedding this as part of our organisational culture is being recognised.

"Awards like this are further endorsement of the valuable role Northern Rock and its colleagues play in supporting its local communities, particularly those facing financial difficulty."

Judge Joanne Atkin, Editor of Mortgage Finance Gazette said that she and her colleagues had had had a difficult job and that those who had been highly commended were truly deserving. She added: "Community is at the core of Northern Rock's business strategy which is framed and communicated through four Cs - colleague, customer, company and community.

"Community within Northern Rock is about giving of both time and money. The Samaritans is Northern Rock's corporate charity of the year but it also works with a number of good causes: Women's Aid, a fight against domestic violence; The Cyrenians, which operates refuges for the homeless around the UK; Shelter, Crisis, The People's Kitchen and a partnership which enables a small community-based bank to relieve the financial hardship of individuals and families resulting from poor money management, unmanageable levels of high interest debt and no savings."

ENDS

About Northern Rock:
Northern Rock plc. is a bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts including an ISA, to customers in the UK and Ireland. It also offers mortgage products and a mortgage calculator to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock video investigates money worries

Mon, 28 Nov 2011 10:00:53 GMT

Northern Rock's latest video has put consumers in the spotlight as they reveal that by far their biggest money worry is paying the mortgage each month.

The bank took to the streets to find out what concerns people most about their finances, and the overwhelming majority of consumers confirmed their mortgage payment was their biggest financial worry.

As recent research undertaken by Northern Rock showed, many UK mortgage borrowers coming to the end of their fixed rate deal could be better off if they took a mortgage with Northern Rock. The bank is confident it can help reduce this concern for customers, and put them back in control of their finances.

Lloyd Cochrane, Head of Lending Products at Northern Rock said: "Fixed rate pricing across the market is at an all-time low and we continue to offer some very attractive deals, as well as our Freedom to Fix option, a Tracker which gives customers the opportunity to fix if interest rates should start to rise.

"We believe we can help many of these consumers to reduce their anxiety over their monthly mortgage payment by helping them find a Northern Rock mortgage that works for them. Whether you'd like the security of knowing what your payment will be for the next two years or you’re looking for more flexibility, we’re sure we have an option to suit you."

More information on Northern Rock's current range of mortgages can be found at its award-winning mortgages website, located at www.northernrock.co.uk/mortgages/putting-you-in-control/.

The site also includes a range of interactive tools, such as a jargon buster, budget planner and mortgage calculator, to help take the complexity out of selecting the right mortgage.

- ENDS -

About Northern Rock:
Northern Rock plc is a bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts, including an ISA, to customers in the UK and Ireland and mortgage products to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

About the BITC Awards:
In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

The BITC Awards identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace. The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK’s leading awards for responsible business practice. Business in the Community stands for responsible business. More information can be found at www.bitc.org.uk.

The Jaguar Land Rover Building Stronger Communities Award recognises companies that are investing in the communities in which they operate and those in greatest need, achieving sustainable impact on key social issues in these areas.

Northern Rock reveals its mortgage could be beneficial to 8 out of 10 borrowers

Mon, 14 Nov 2011 09:43:01 GMT

Northern Rock has revealed that many UK mortgage borrowers coming to the end of their fixed rate deal could be better off if they took a mortgage with Northern Rock*, even if they only have 20% equity.

Across the market, almost 200,000 of these consumers are due to come to the end of their fixed rate deal in the next six months, and more than 80% of these will end their deal on an interest rate of 4.00% or above.

Fixed rate pricing across the market is at an all time low, and Northern Rock offers a range of two-year fixed rate mortgage deals below 4.00%, which could save some borrowers more than £100 per month compared to their existing deal.

For example, the average fixed interest rate ending in January 2012 for borrowers with 30% equity in their property is 4.68%. A borrower switching from this to Northern Rock's two-year fixed rate at 2.67% would see their monthly payment fall significantly over the fixed rate period.

For borrowers with 20% equity in their property, the average fixed rate ending in January 2012 is 5.09%. A borrower switching from this to Northern Rock's two-year fixed rate at 3.47% would see their monthly payment fall substantially over the two-year deal.

Lloyd Cochrane, Head of Lending Products at Northern Rock said: "Many people do prefer the security of a fixed rate mortgage and this research highlights the opportunity that exists for consumers in the market at present, with fixed rate deals currently available at such low rates.

"Northern Rock continues to play its part in that market by offering some very attractive rates. We believe we can help more than 80% of these consumers to reduce their monthly payments, so, when looking at where to remortgage when their current fixed rate deal ends, it is important that borrowers shop around to get the best product to suit their circumstances."

More information on Northern Rock's mortgages can be found on its award-winning mortgages website at www.northernrock.co.uk/mortgages/. The site also includes a range of interactive tools, such as a jargon buster, budget planner and mortgage calculator - all helping to take the complexity out of selecting the right mortgage.

Notes to Editors:
Key figures and assumptions from research:
- Research conducted by Northern Rock indicates 197,672 customers with 20% equity in their property will come to the end of their current fixed rate deal between November 2011 and April 2012.
- 163,970 will be coming to the end of deal with an interest rate of 4.00% and above.
- This equates to 82.9% of those customers i.e. 8 in 10.
- *Source: CACI's Mortgage Market Database, correct at 10 October 2011.
- Northern Rock offers a number of fixed rate remortgage deals below 4.00%.
- Product fees may apply on the new product selected.
- Customers are advised to check any applicable exit fees with their existing lender.

About Northern Rock
Northern Rock plc. is a bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts, including an ISA, to customers in the UK and Ireland and mortgage products to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock launches competitive new Fixed Rate Cash e-ISAs

Mon, 31 Oct 2011 12:20:57 GMT

Northern Rock has launched three new online issues of its Fixed Rate Cash e-ISA to complement its competitive portfolio of internet-based savings accounts.

The e-ISA offers those who prefer to operate their accounts via the internet an online option for their tax-free savings. The e-ISA is a cash ISA set at a competitive fixed rate of interest over a choice of one, two or three years and can be opened with no minimum initial deposit.

Interest, which can be added to the account or paid into another account, is paid annually on the first business day following 5 August on minimum balances of £500 (balances which fall below this amount will earn Northern Rock's prevailing rate of interest, 0.10% tax free pa /AER).

Strictly limited issues, the Fixed Rate Cash e-ISAs (issues 25, 26 and 27) allow transfers in from other providers and additional deposits can be made to the cash ISAs, within HM Revenue and Customs limits (£5,340 per tax-year from 6 April 2011) within 30 days after the product is withdrawn (excepting postal applications to transfer in from other banks and building society ISA accounts, which must be received while the product remains on sale).

To ensure funds are accepted into new accounts, Northern Rock must receive all funds within 30 days from the account opening date. Therefore, individuals must initiate any Cash ISA transfers in as soon as they receive their new Cash ISA details. After the 30 day period one may not be able to make any additional deposits into the Cash ISA. Subscriptions are not allowed to any other Cash ISAs in the same tax year(s) that one subscribes to this Cash ISA, even if the full annual allowance(s) haven't been used.

Thirty days following the products withdrawal, no further deposits will be accepted and all three issues may be withdrawn without notice, once fully subscribed.

Minimum withdrawals of £1 by BACS and £250 by CHAPS can be made, subject to a charge equivalent to 60 days' loss of interest on the amount withdrawn (Issue 25), 90 days' loss of interest on the amount withdrawn (Issue 26), or 120 days' loss of interest on the amount withdrawn (Issue 27). There is a £35 fee for transfers out via CHAPS.

Notes to Editors:
Three new online Cash ISA accounts at competitive rates fixed over a choice of one, two or three years:
- 3.35% tax-free* pa /AER** fixed until 24 November 2012 (Fixed Rate e-ISA Issue 25)
- 3.75% tax-free* pa /AER** fixed until 24 November 2013 (Fixed Rate e-ISA Issue 26)
- 4.00% tax-free* pa /AER** fixed until 24 November 2014 (Fixed Rate e-ISA Issue 27)

*The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Northern Rock:
Northern Rock plc is a bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

In addition to e-ISAs, Northern Rock offers several other online services, including a budget planner, a jargon buster, a first-time buyer guide and a mortgages calculator.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock launches new eBond issues

Mon, 10 Oct 2011 16:30:16 GMT

Northern Rock has launched two new issues of its new online fixed rate e-bond account, providing competitive interest rates for those savers who wish to operate their accounts online. e-bond (issues 18 and 19) will are available now.

With a minimum deposit of just £1, customers can benefit from a competitive fixed rate of interest until 20 October 2012 on e-bond issue 18, which pays 3.00% gross*/AER** annually. Alternatively, they can choose e–bond issue 19, which pays 3.25% gross*/AER** pa, fixed until 20 October 2014. Monthly interest rate options are also available on all three products. Accounts must be opened and operated online and initial deposits can be made online by electronic transfer from another bank or building society.

Account holders can choose to have their interest paid annually (interest is calculated daily) on 5 August, or monthly (the monthly interest rate is 0.30% below the gross* annual rate) on the 7th of the month (available next business day).

Additional deposits to the bonds can be made during the offer period up to a maximum of £500,000 per customer. The fixed rate bonds (Issues 18 and 19) are non-redeemable and none of the issues allow any withdrawals or closure during their respective fixed rate periods. The bonds are offered on a strictly limited issue basis and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

Full product details are available at Northern Rock's website at www.northernrock.co.uk/savings.

Notes to editors:
The rates for the new issues of fixed rate e-bonds are as follows:
3.00% gross*pa/AER** fixed until 20 October 2012 (issue 18)
3.25% gross*pa/AER** fixed until 20 October 2014 (issue 19)
Minimum initial deposit of just £1

*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Customers should note that interest will be paid net of tax unless they are eligible to receive interest gross and submit the required registration form to us.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts, including a cash isa to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock maintains healthy interest rates for Fixed Rate Cash ISA savers

Thu, 29 Sep 2011 16:21:43 GMT

Northern Rock is launching three new issues of its fixed rate cash ISA, offering savers the chance to take advantage of tax-free* interest rates.

The new accounts, which are fixed over one, three and five years, are available now with a minimum initial deposit of £500.

A strictly limited issue, the fixed rate cash ISAs (issue 174-176) allow transfers from other providers and Northern Rock has increased the interest rates it pays for savers who are happy to lock their tax-free* savings away, whether for the short or long term.

The product can be opened either by post or through Northern Rock's branches and additional deposits (£250 minimum) can be made to the cash ISA, within HM Revenue and Customs limits (£5,340 per tax-year). This issue may be withdrawn without notice once fully subscribed.

To ensure funds are accepted they must be received within 30 days from account opening. Any deposits received after 30 days may be returned. This includes any funds transferred in from existing cash ISAs. Subscriptions are not allowed to any other Cash ISAs in the same tax year(s) that customers subscribe to this Cash ISA, even if they have not used their full annual allowance(s).

Interest, which can be added to the account or paid into another account, is paid annually on 30 November. Minimum withdrawals of £250 can be made from the account, subject to a charge equivalent to 60 days' loss of interest on the amount withdrawn (Issue 174), 120 days' loss of interest on the amount withdrawn (Issue 175) and 180 days' loss of interest on the amount withdrawn (Issue 176). If balances fall below £500, our current basic rate of interest will be paid (0.10% tax-free* pa /AER**).

Notes to Editors:
Tax-free* savings over one, three or five years
2.90% tax-free* pa/AER** fixed until 15 October 2012 (Issue 174)
3.30% tax-free* pa/AER** fixed until 15 October 2014 (Issue 175)
3.60% tax-free* pa/AER** fixed until 15 October 2016 (Issue 176)

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts and fixed rate bonds to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock launches new Fixed Rate e-ISAs

Thu, 29 Sep 2011 10:41:50 GMT

Northern Rock has launched three new online issues of its Fixed Rate Cash e-ISA to complement its competitive portfolio of internet-based savings accounts.

e-ISA offers those who prefer to operate their accounts via the internet an online option for their tax-free* savings. e-ISA is a cash ISA set at a competitive fixed rate of interest over a choice of one, two or three years and can be opened with no minimum initial deposit.

Interest, which can be added to the account or paid into other savings accounts, is paid annually on the first business day following 5 August on minimum balances of £500 (balances which fall below this amount will earn Northern Rock’s prevailing rate of interest, 0.10% tax free* pa /AER**).

Strictly limited issues, the Fixed Rate Cash e-ISAs (issues 22, 23 and 24) allow transfers in from other providers and additional deposits can be made to the cash ISAs, within HM Revenue and Customs limits (£5,340 per tax-year from 6 April 2011) within 30 days after the product is withdrawn (excepting postal applications to transfer in from other banks and building society ISA accounts, which must be received while the product remains on sale).

30 days following the products withdrawal, no further deposits will be accepted and all three issues may be withdrawn without notice once fully subscribed.

Notes to editors:
3.20% tax-free* pa /AER** fixed until 24 October 2012 (Fixed Rate e-ISA Issue 22)
3.55% tax-free* pa /AER** fixed until 24 October 2013 (Fixed Rate e-ISA Issue 23)
3.80% tax-free* pa /AER** fixed until 24 October 2014 (Fixed Rate e-ISA Issue 24)

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts, fixed rate bonds and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock introduces new Online Reward instant access account for savers

Thu, 01 Sep 2011 14:23:19 GMT

Northern Rock has launched a new competitive Online Reward account, adding further options to its flexible savings range.

For those who prefer the convenience of the internet with which to manage their savings, Online Reward, which is available to open with a minimum deposit of £5,000, pays a competitive interest rate of 3.11% gross* pa/AER** variable on balances over £5,000, which includes a bonus rate of 1.61% gross* for the first 12 months from account opening. (Balances falling below this rate will receive Northern Rock's prevailing rate of interest which is 0.10% gross* pa/AER** variable).

Those who prefer a monthly interest option can choose to receive 3.07% gross* variable (3.11% AER**), and additional deposits can be made up to the maximum balance of £100,000. Only one account per customer per issue is allowed.

Interest can be paid annually on 11 March. Alternatively, interest can be paid monthly on the 10th day of the month (available next business day or three days following this if the funds are sent via BACS to an external account).

Withdrawals from Online Reward can be made via a nominated bank or building society account without notice or charge (there is a £35 fee if customers choose to transfer via CHAPS). The minimum withdrawal amount is £1.

To apply for Online Reward, interested parties can visit www.northernrock.co.uk, or for more information regarding Northern Rock's other savings products, call 0845 631 5151 (calls are charged at the service provider's prevailing rate and may be monitored and recorded).

Notes to Editors:
Online Reward offers instant access savings at a highly competitive rate of 3.11% gross* pa/AER**
Up to six notice-free withdrawals are permitted each year - including account closure

*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless you are eligible to receive interest gross and submit the required registration form to us.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

About Northern Rock:
Northern Rock plc is a bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts and an isa to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries. Northern Rock also offers an online mortgage calculator to its customers.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock partners with moneysupermarket.com to offer exclusive Online ISA

Wed, 31 Aug 2011 15:27:53 GMT

Northern Rock is offering a top-paying online cash ISA to complement its competitive portfolio of branch, postal and online savings accounts. This ISA is exclusively available through moneysupermarket.com and pays 3.05% tax-free* pa/AER** variable, with no bonus rate attached.

The exclusive Online ISA offers those who prefer to operate their accounts via the internet an instant access option for their tax-free* savings, and can be opened with no minimum initial deposit.

Kevin Mountford, head of banking at moneysupermarket.com, said: "If you're a UK taxpayer then it is important to make full use of your annual tax free allowance so you can make the most of your money.

"Not only is it important to make sure you find the best deal for your current savings needs, but you should always remember existing savings invested in ISAs elsewhere, which could be languishing on a poor rate.

"Moving existing savings into an account, such as Northern Rock's Online ISA which allows transfers of existing funds, can be beneficial but make sure you follow the proper ISA transfer procedures otherwise you will lose the tax free status on your savings."

Interest, which can be added to the account or paid into another account, is paid annually on 11 March on minimum balances of £1 (balances which fall below this amount will earn Northern Rock's prevailing rate of interest, 0.10% tax free* pa /AER**).

Strictly a limited issue, the variable rate Online ISA allows transfers in from other providers and additional deposits can be made to the cash ISA , within HM Revenue and Customs limits (£5,340 pa from 6 April 2011) up to 30 days after the product is withdrawn.

After this time, no further deposits will be accepted and this issue may be withdrawn without notice once fully subscribed.

Minimum withdrawals of £1 by BACS and £250 by CHAPS can be made from the account; however the customer will lose the tax free status on the amount withdrawn. There is a £35 fee for transfers out via CHAPS.

Notes to Editors:
Details of the online ISA:
Instant access, variable rate tax-free* account
No bonus rate attached
3.05% tax-free* pa /AER** variable
Exclusively available through moneysupermarket.com

- ENDS -

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries. Northern Rock also offers an online mortgage calculator to its customers.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

The BITC Awards identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace. The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK's leading awards for responsible business practice.

Business in the Community stands for responsible business. More information can be found at www.bitc.org.uk

Northern Rock adopts QR technology as it adds three new accounts

Thu, 25 Aug 2011 16:08:33 GMT

Northern Rock has launched three new competitive instant access savings accounts, adding further options to its flexible savings range. To make it easier to navigate to the relevant product pages on its award-winning website, Quick Response (QR) codes have also been introduced on selected new product adverts.

For those who are looking for a straightforward, instant-access savings account which can be operated in branch, by post or by phone, Everyday Access offers the interest rate of 2.05% gross* pa/AER** variable on balances over £1, with no bonus rate attached. (Balances falling below this rate will receive Northern Rock's prevailing rate of interest which is 0.10% gross* pa/AER** variable). Alternatively, customers may wish to opt for the monthly interest rate of 2.03% gross* variable (2.05% AER**).

The account can be opened and operated with a minimum balance of £1. Additional deposits can be made up to the maximum balance of £250,000. Only one account per customer per issue is allowed.

For those who prefer the convenience of the internet with which to manage their instant-access savings, Everyday Access Online, which is also available to open with a minimum deposit of £1 (or £250 by cheque) and pays a competitive interest rate of 2.75% gross* pa/AER** variable on balances over £1. (Balances falling below this rate will receive Northern Rock's prevailing rate of interest which is 0.10% gross* pa/AER** variable).

Those who prefer a monthly interest option can choose to receive 2.72% gross* variable (2.75% AER**), and additional deposits can be made up to the maximum balance of £100,000. Only one account per customer per issue is allowed.

Finally, for those looking for an instant access account which they can manage by post from the comfort of their own home, Saver Reward offers a market-leading rate and can be opened with a minimum deposit of £1,000. The account can be opened by post or by telephone (a nil balance is permitted if opening by telephone prior to an electronic transfer) but once opened the account must be operated via the postal channel.

As part of the launch of Saver Reward, Northern Rock will also be introducing Quick Response (QR) codes to its advertising. These codes will allow consumers to navigate straight to the relevant product page of the Northern Rock website using their smartphone.

ENDS

**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

***NET is the annual rate of interest payable after the deduction of basic rate tax (currently 20%). Interest will be paid net or, subject to the required certification, gross. Where the tax deducted exceeds an investor's tax liability (if any) a claim may be made to HM Revenue & Customs for repayment of tax. For individuals whose income falls within the basic rate band, the tax deducted will match their liability to tax on the interest and they will have no more tax to pay on it. Individuals who are liable at the higher rate(s) of income tax will have to pay additional tax due.

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts and a cash isa to customers in the UK and Ireland and mortgages to UK borrowers. It also offers fixed rate bonds. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock reduces mortgage rates by up to 0.90%

Mon, 22 Aug 2011 14:05:42 GMT

Northern Rock has reduced rates across its mortgage range by up to 0.90% and extended its £500 cash back incentive to include all Buy to Let (BTL) products with percentage fees.

Northern Rock's 2-Year Everyday fixed rates with a £995 product fee now start from 2.67% for purchase and re-mortgage customers with a 30% deposit (70% LTV), a reduction of 0.32%. For those who wish to keep their costs as low as possible however, 2-year Everyday fixed rates with no product fees, start from 3.19% at 70% LTV.

Northern Rock remains committed to assisting those with smaller deposits, including First Time Buyers. It has therefore reduced selected mortgage rates across its products at 80% LTV (20% deposit required), 85% LTV (15% deposit required) and 90% LTV (10% deposit required). A 2-Year Everyday fixed rate mortgage at 90% LTV exclusively for purchase customers, is now available from just 5.25% with a £995 product fee. Customers will also qualify for £500 cash back. Or for those who choose our Fee Saver Option, the same term is available at just 5.45%.

Following demand from BTL customers who welcomed Northern Rock's recent limited period offer of £750 cash back across the BTL range, the lender has also extended its £500 cash back 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%.

Everyday mortgages offer customers simple, straightforward mortgage deals with competitive rates and the ability to make overpayments of up to 10% each year, as well as the option to apply for payment holidays. Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission.

ENDS

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland, including fixed rate bonds and a cash isa. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

On Everyday mortgage products, the Early Repayment Charge (ERC) will apply to the outstanding secured loan balance at the time of redemption until the end of the respective incentive period. Any overpayments in excess of the 10% annual allowance will also be subject to the Early Repayment Charge.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

Business in the Community stands for responsible business. More information can be found at www.bitc.org.uk

Northern Rock launches new fixed rate e-ISAs

Fri, 19 Aug 2011 16:51:16 GMT

Northern Rock has launched three new online issues of its fixed rate cash e-ISA to complement its competitive portfolio of internet-based savings accounts.

Interest, which can be added to the account or paid into another account, is paid annually on the first business day following 5th August on minimum balances of £500 (balances which fall below this amount will earn Northern Rock’s prevailing rate of interest, 0.10% tax free* pa /AER**).

Strictly limited issues, the fixed rate cash e-ISAs (issues 19, 20 and 21) allow transfers in from other providers and additional deposits can be made to the cash ISAs, within HM Revenue and Customs limits (£5,340 per tax-year from 6 April 2011) up to 30 days after the product is withdrawn (excepting postal applications to transfer in from other banks and building society ISA accounts, which must be received while the product remains on sale).

To guarantee funds are accepted into a new account, Northern Rock advises all funds to be deposited within 30 days from the account opening date. Any deposits received after 30 days may be returned to customers. This includes any funds transferred in from an existing cash ISA, therefore customers should ensure that they initiate any Cash ISA transfers in as soon as they receive their new Cash ISA details. Subscriptions are not allowed to any other Cash ISAs in the same tax year(s) that customers subscribe to this Cash ISA, even if they have not used your full annual allowances(s).

30 days following the products withdrawal, no further deposits will be accepted and all three issues may be withdrawn without notice once fully subscribed.

Minimum withdrawals of £1 by BACS and £250 by CHAPS can be made from the account, subject to a charge equivalent to 60 days' loss of interest on the amount withdrawn (Issue 19), 90 days' loss of interest on the amount withdrawn (Issue 20), or 120 days’ loss of interest on the amount withdrawn (Issue 21). There is a £35 fee for transfers out via CHAPS.

- ENDS -

Notes to Editors:
*The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

Online cash ISA rates are as follows:
3.20% tax-free* pa /AER** fixed until 24 September 2012 (Fixed Rate e-ISA Issue 19)
3.55% tax-free* pa /AER** fixed until 24 September 2013 (Fixed Rate e-ISA Issue 20)
3.80% tax-free* pa /AER** fixed until 24 September 2014 (Fixed Rate e-ISA Issue 21)

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts to customers in the UK and Ireland (including fixed rate bonds) and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community’s Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock launches second annual branch contest for kids

Fri, 12 Aug 2011 10:38:58 GMT

Northern Rock is helping to keep kids entertained this summer holidays by holding a nationwide competition.

The contest, which started on the first day of the school break, focuses on the theme of superheroes in an effort to spark kids' imaginations, and all of Northern Rock's 74 branches are taking part.

For a chance at winning £100 in High Street vouchers, children have the option to draw their own superhero, colour in a template design supplied by Northern Rock, or dress up as a superhero and send a photograph of themselves in costume to their local branch.

The competition is split into three age categories - up to four years, five to nine years and ten to 16 years of age. An independent representative at each branch will choose a winner from each age group, each of whom will win a High Street voucher worth £25. All branch winners will then progress to the national judging and their chance to win a High Street voucher worth £100.

To enter, interested parties can visit any of Northern Rock's branches and pick up an entry form, which can either be completed in branch or taken away and returned no later than 3rd September 2011. All winners will be notified by 24 October 2011. Full terms and conditions are available in branches.

Launched in April last year, the Little Rock's top-paying access account at 3.00% gross* pa/AER**, is available through Northern Rock's branch network, and by post, to customers aged under 16. It must be opened with an appropriate adult named on the account as a trustee.

Little Rock can be opened by cash, cheque or by transfer from an existing Northern Rock account. There is a maximum balance limit of £10,000, and all trustees are required to sign for any withdrawals. All withdrawals are notice free.

ENDS

Notes to Editors:
*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless you are eligible to receive interest gross and submit the required registration form to us.
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.
***NET is the annual rate of interest payable after the deduction of basic rate tax (currently 20%).

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Business in the Community stands for responsible business.

Northern Rock launches new cashback incentives and cuts selected rates

Thu, 28 Jul 2011 15:52:20 GMT

Northern Rock has launched a new range of mortgages which offer cashback on completion in order to help customers cover the costs associated with moving home or taking a new mortgage.

The range has been designed to appeal to a wide variety of customers and whether they are setting up home for the first time, moving up the property ladder or even becoming a landlord, a cash incentive is likely to be appreciated. With up to £750 Cashback on completion*, the new incentive is available on selected residential and Buy to Let mortgages.

Northern Rock is committed to helping people buy their first or next home. The Company understands that it is an expensive time and wants to help as much as possible. That is why it is offering £500 Cashback on selected residential Everyday fixed rates at 80% LTV, 85% LTV and 90% LTV. The lender has also reduced interest rates on some of these deals by up to 0.30%.

For a limited time only, £750 Cashback is available on all Northern Rock Buy to Let mortgages. The range includes two, three and five year products up to 70% LTV with flat fees, percentage fees and fee free options available.

Northern Rock has also made improvements to its mortgage porting policy following feedback from customers and intermediaries. All new customers completing a mortgage from 25th July 2011 will be able to port their existing mortgage balance or a reduced balance (subject to any applicable ERC if a customer chooses to reduce their balance), and if they need additional borrowing to purchase their next property they will be able to apply for a new product for the additional amount on the terms of the purchase product range available at that time.

Northern Rock has also reduced rates on its 2-Year Everyday Tracker with a £995 product fee, now available at 2.38% up to 70% LTV, or at 2.48% up to 75% LTV. Both of these deals are available to purchase and remortgage customers.

The recent changes are part of a raft of improvements Northern Rock has made to its mortgage proposition over the course of 2011 to simplify its processes and increase consumer choice.

Lloyd Cochrane, Northern Rock's Head of Lending Products, said: "We are delighted to add our new cashback incentive to Northern Rock's mortgage proposition, increasing choice and flexibility within the mortgage market, and providing a further helping hand to customers looking to buy their first or next home.

"We continue to listen to what our customers and our intermediary partners tell us. The addition of cashback products to our range and the changes we are making to our porting policy are more evidence of us delivering what our customers and partners want. You can expect to see further improvements from Northern Rock as we continue to build our business and respond to customers and brokers."

ENDS

Notes to Editors:
*£750 Cashback is a limited period offer available only on the Buy to Let Cashback range until 8th August 2011.

About Northern Rock:
Northern Rock plc is a bank, authorised by the FSA as a deposit taker and mortgage lender. It offers savings accounts, including a cash isa and fixed rate bonds, to customers in the UK and Ireland and mortgage products to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock highly commended for responsible business practice

Mon, 11 Jul 2011 11:26:39 GMT

Northern Rock was given a prestigious national award from The Prince of Wales' Business in the Community (BITC) charity, for its work to help tackle financial exclusion.

Last month, BITC awarded Northern Rock with a 'Big Tick' for its on-going project to help rebrand, relaunch and support Bridges Community Bank, formerly South Tyneside Credit Union. Judges were so impressed with the nomination that Northern Rock was also selected as one of only two North East organisations to be shortlisted for the coveted title of 'Example of Excellence' in their respective categories.

Last night, representatives from the bank including Executive Chairman Ron Sandler, were highly commended in BITC's 'Building Stronger Communities' for 2011, at a gala event sponsored by Unilever at The Royal Albert Hall.

The national 'Big Tick' award is the first level of award available to entrants of the national BITC Awards for Excellence, which recognises inspirational programmes that have a positive impact on the community, the environment or wider society. Northern Rock was one of six companies to achieve it this year before being highly commended in the category of the UK's Example of Excellence in Building Stronger Communities.

Northern Rock's contribution involved a team of employee volunteers skilled in a number of disciplines helping Bridges Your Community Bank. It continues to support Bridges as part of its flagship community programme which focuses on assisting those in financial difficulty.

Mr Sandler said: "We are honoured to have received this additional commendation, and to have been shortlisted as Business in the Community's Example of Excellence 2011, for our important work in the local community, in this instance for our work with Bridges Your Community Bank.

"Our Big Tick Award is proudly displayed in Northern Rock's head office so that our colleagues and visitors alike can see what has been achieved due to the hard work and dedication of our employees. I look forward to adding this additional tribute and hope it acts as a source of real inspiration and pride for everyone connected with Northern Rock."

Stephen Howard, Chief Executive of Business in the Community said: "I congratulate Northern Rock on achieving its Big Tick. It is a challenging time for business, but this is a sign that companies are not losing their focus and are transforming their businesses to make a positive impact on people and society; and are prepared to lead by example. That's what Business in the Community's Awards for Excellence is all about - celebrating responsible business, the leadership that makes it happen and the benefits to the business and society of doing so.

"Communities and consumers need to see that businesses are proactive, visible and engaged on the big issues of the day, as Northern Rock has demonstrated."

ENDS

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts, as well as a cash isa and fixed rate bonds, to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

About Business in the Community:
Business in the Community's Awards for Excellence identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace.

The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK's leading awards for responsible business practice. BITC received over 370 entries for the national Awards for Excellence.

Business in the Community stands for responsible business - it is a business-led charity with a growing membership of 850 companies, from large multinational household names to small local businesses and public sector organisations.

Northern Rock adds helpful savings video guide to its website

Wed, 22 Jun 2011 10:23:57 GMT

Northern Rock has added another helpful video guide to its interactive savings website to help consumers with their savings choices.

The video - Northern Rock's Guide to Savings - is the third guide in the series recently introduced by the bank to add a further dimension to its award-winning website. Existing videos include Northern Rock's Guide to ISAs and First Time Buyers Guide, which can be viewed on the Northern Rock website alongside the new addition.

The newest guide is designed to help customers make the most of their money in an accessible way, by highlighting the need to consider debt and budgeting as well as the benefits of the wide range of competitively priced savings products on offer at Northern Rock.

The colourful video guide, which is also available via the bank's YouTube channel, covers key areas such as planning for emergencies and saving for a rainy day.

Northern Rock offers a range of variable and fixed rate savings products, including online savings accounts, instant-access products and tax-free savings options. Northern Rock also offers customers a free savings review.

Further detail about Northern Rock's range of savings products is available on the website, which is populated with useful advice and information for different savings customer groups, financial planning information and at-a-glance guides to help people choose between different types of savings account.

The site also includes a range of interactive tools such as a jargon buster and budget planner to help take the complexity out of selecting the right savings product for a customer's own individual circumstances, and a product calculator for each of Northern Rock's products, such as a mortgage calculator and a calculator for its Cash ISA, to help work out the estimated return on investment.

Northern Rock customers also benefit from the bank's unique savings promise. This is a commitment to its customers that it will provide a minimum of two months' written notice of any reduction to the interest rate on their account. Where customers have a notice period for access to their funds of greater than two months, Northern Rock will give them that equivalent notice period of any reduction to their interest rate. Northern Rock will also write to all savings customers at least once a year with details of all its available variable rate savings accounts. And it will give savings customers a minimum of two months' written notice of any changes to the terms and conditions of their account.

ENDS

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

The BITC Awards identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace. The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK's leading awards for responsible business practice.

Business in the Community stands for responsible business.

Northern Rock cuts mortgage rates

Wed, 15 Jun 2011 10:25:18 GMT

Northern Rock has reduced mortgage rates, making its range even more competitive. As well as reducing selected rates across its core mortgage range by up to 0.50%, it has improved its 2-Year Fixed rate deal available exclusively through Northern Rock's intermediary partners. The product is now available at 2.99% for those with a 30% deposit (70% LTV).

All of the remaining reduced deals are available to both purchase and remortgage customers, the latter benefiting from Northern Rock's usual incentive of a free basic valuation and free standard legal costs.

Northern Rock has reduced rates for customers with a 25% deposit. A 2-Year Everyday Fixed rate deal with a £995 product fee is available at 3.19% for those with a 25% deposit (75% LTV). The same deal is available without a product fee, priced at 3.65%.

Alternatively, those with a 25% deposit (75% LTV) can choose a 3-Year Fixed rate mortgage with a £995 product fee at 3.93%, and a 5-Year deal with a £995 product fee is 4.59% up to 75% LTV. Those who choose not to pay a product fee, can secure the same product at 4.79%.

Competitive Buy to Let rates start from 3.39% for a 2-Year Everyday Fixed rate mortgage with a 3.5% product fee, up to 60% LTV. Those preferring a flat fee of £1,995 can choose a 2-Year Fixed rate up to 60% LTV, priced at 4.79%.

ENDS

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts and ISA to customers in the UK and Ireland and mortgages to UK borrowers. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries. The Northern Rock website also offers customers a mortgage calculator.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

On Everyday mortgage products, the Early Repayment Charge (ERC), currently 4% of the outstanding secured loan balance; will apply to the outstanding secured loan balance at the time of redemption until the end of the respective fixed rate period. Any overpayments in excess of the 10% annual allowance will also be subject to the Early Repayment Charge.

In June 2011, Northern Rock was awarded a national Big Tick Award in Business in the Community's Awards for Excellence, in the category of Building Stronger Communities.

Northern Rock wins prestigious national Big Tick award

Mon, 13 Jun 2011 11:34:43 GMT

Northern Rock has been heralded among the most responsible businesses in the UK after receiving Business in the Community's (BITC) coveted national Big Tick for its work to tackle financial exclusion in partnership with credit unions.

The Big Tick award is the first level of award available to entrants of the national BITC Awards for Excellence, which recognises inspirational programmes that are making a positive impact on the community, the environment or wider society.

Northern Rock's contribution, which involved volunteers skilled in a number of disciplines, helping to rebrand and relaunch South Tyneside Credit Union as Bridges Your Community Bank, has also been shortlisted for consideration for the title of Example of Excellence - the overall winner for the Building Stronger Communities category.

The final results will be announced at the BITC Awards for Excellence Gala Event, sponsored by Unilever, which will be held at the Royal Albert Hall on 5 July.

Northern Rock's Customer and Commercial Director Andy Tate said: "We are absolutely delighted to receive this Big Tick in recognition of our important work in the local community, in this instance for our work with Bridges.

"We are also honoured to have been shortlisted for the overall Example of Excellence and we are very proud of what has been achieved through the dedication of our staff."

Stephen Howard, Chief Executive of Business in the Community said: "I congratulate Northern Rock on achieving its Big Tick. It is a challenging time for business, but this is a sign that companies are not losing their focus and are transforming their businesses to make a positive impact on people and society; and are prepared to lead by example. That's what Business in the Community’s Awards for Excellence is all about - celebrating responsible business, the leadership that makes it happen and the benefits to the business and society of doing so.

"Communities and consumers need to see that businesses are proactive, visible and engaged on the big issues of the day, as Northern Rock has demonstrated."

Representatives from Northern Rock will be presented with the Big Tick award at a regional celebration event at the Gateshead Hilton at the end of June.

ENDS

About Northern Rock:
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgage lender from 1 January 2010. It offers savings accounts (including an ISA) to customers in the UK and Ireland and mortgages to UK borrowers. New products, such as fixed rate bonds, are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

About Business in the Community:
Business in the Community's Awards for Excellence identify and celebrate companies having a positive impact on the community, environment, marketplace and workplace.

The Big Tick winners demonstrate significant impact and high quality management of their responsible business practices and can show a positive impact both on society and on the business. Now in their 14th year, they are the UK’s leading awards for responsible business practice. BITC received over 370 entries for the national Awards for Excellence.

Business in the Community advises, supports and challenges its members to create a sustainable future for society and to improve business performance.

Its members work with it to define what responsibility looks like in the workplace, marketplace, community and the environment - and the charity shares what it learns about driving performance through responsible business practice.

Northern Rock launches new issue of its easy access online saver

Wed, 01 Jun 2011 16:34:21 GMT

Northern Rock has announced the launch of the latest issue of its easy access savings account for customers wishing to manage their funds exclusively online. E-Saver (Issue 6) is available now and pays 2.75% gross* pa/AER**.

The new Northern Rock savings account can be opened with an initial investment of £1 and E-Saver (Issue 6) allows subsequent deposits from as little as £1. The account allows a balance of up to £100,000 and account holders can choose to have their interest paid either annually on 11 March or monthly (on 10th of the month. Monthly gross* is 2.72% pa variable).

Withdrawals from E-Saver (Issue 6) can be made via a nominated bank or building society account without notice or charge (there is a £35 fee if customers choose to transfer via CHAPS). The minimum withdrawal is £1 for BACS transfers and £250 for withdrawals by CHAPS. Customers are able to view their transaction history online.

Additional deposits can be made up to the maximum balance of £100,000 by electronic transfer. E-Saver (Issue 6) is strictly a limited issue and will be withdrawn without notice.

This information is directed at professionals only and should not be relied upon by any other persons. It is not a financial promotion and should not be displayed as such.

ENDS

Notes to Editors
*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless applicant is eligible to receive interest gross and submits the required registration form
**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year

About Northern Rock
Northern Rock plc is a new bank, authorised by the FSA as a deposit taker and mortgages lender from 1 January 2010. It offers ISAs and other savings accounts to customers in the UK and Ireland and mortgage products to UK borrowers along with a simple online mortgage calculator. New products are offered through both direct channels - including a national branch network - and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

Northern Rock launches improved E-bonds

Tue, 03 May 2011 11:22:00 GMT

Northern Rock has launched two new improved issues of its online fixed rate e-bond account, providing competitive interest rates for those savers who wish to operate their accounts online. E-bond (Issues 7 and 8) will be available from April 2011.

With a minimum deposit of just £1, customers can benefit from a competitive fixed rate of interest until 20 May 2012 on e-bond issue 7, which pays 3.10% gross*/AER** annually, or choose e–bond issue 8, which pays 4.10% gross*/AER** pa, fixed until 20 May 2014. Monthly interest rate options are also available for both products. Accounts must be opened and operated online and initial deposits can be made online by electronic transfer from another bank or building society.

E-Bonds account holders can choose to have their interest paid annually (interest is calculated daily) on 5 August, or monthly (the monthly interest rate is 0.30% below the gross* annual rate) on the 7th of the month (available next business day).

Additional deposits to the fixed rate bonds can be made during the offer period up to a maximum of £250,000 per customer. E-bonds (Issues 7 and 8) are non-redeemable and neither issue allows any withdrawals or closure during its respective fixed rate period. The bonds are offered on a strictly limited issue basis and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

ENDS

Northern Rock continues to operate within the compensatory measures agreed with the EC as part of the State Aid approval announced in October 2009.

Notes to Editors:
*GROSS is the rate of interest paid to eligible non-taxpayers without deduction of tax. Please note interest will be paid net of tax unless the customer is eligible to receive interest gross and submit the required registration form to Northern Rock.

**AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

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