The product comes with a £199 reservation fee and a £499 completion fee which can be added to the loan.
Newcastle Intermediaries has launched a 3-year fixed rate mortgage at 1.99% to 80% loan-to-value.
The product comes with a £199 reservation fee and a £499 completion fee which can be added to the loan.
Steve Carruthers, head of mortgage distribution for Newcastle Intermediaries, said: “3-year fixed rate mortgages have increased in popularity.
“They combine current competitive lending rates with the reassurance that mortgage payments will be fixed for the period.
“House buying or remortgaging used to involve a choice between a better rate, or the certainty of a fixed product. Being able to combine the benefits of both is good news for borrowers.”
The product comes with a 3% early repayment charge until 31 July 2019.
At the end of the term on 31 July 2019 the product reverts to the lender’s standard variable rate which currently stands at 5.99%.
