It includes three-year and five-year fixes
Aiming to respond to homebuyers’ evolving needs for greater choice and flexibility, Newcastle Intermediaries has launched a new range of three-year and five-year fixed rate 95% LTV products.
“For low deposit borrowers especially, we recognise needs are evolving so we’re really pleased to introduce new three and five-year fixed rate options to give brokers additional options, backed by our flexible approach to underwriting,” Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said.
The new range includes a three-year fixed rate at 3.06% (3.8% APRC) with early repayment charges of 3% until August 2023, 2% until August 2024, and 1% until August 2025.
For borrowers wanting to fix for a longer period, a five-year fixed rate at 3.09% (3.7% APRC) is also available with an early repayment charge of 5% until August 2023, 4% until August 2024, 3% until August 2025, 2% until August 2026, and 1% until August 2027.
Overpayment of 10% each year is permitted to offer clients greater flexibility and both products come with £500 cashback and offer free standard valuation up to £500,000.
