NEWCASTLE Building Society has strengthened its impressive mortgage range with a 2-year discount product, which follows closely behind the launch of a suite of offset mortgages designed to help first time buyers.
The latest deal from Newcastle offers a 2-year discount rate 2.52% below its SVR until November 2005. Offering a current rate of 3.03% this is ideal for borrowers who are looking to reduce payments in the early years.
Key features of Newcastle’s 2 Year discount mortgage
- 2.52% discount on Newcastle’s Standard Variable Rate until 11 November 2005, giving a current rate of just 3.03% (5.0% APR)
- Maximum LTV 90%
- Interest is calculated daily.
- Minimum loan £15,000, Maximum loan £500,000
- No MIG on advances up to 85% LTV.
- No early repayment charges after discount period
Steve Urwin, head of marketing and new media at the Newcastle, said: "This 2-year discount product is one of the most competitive on the market today and is a further demonstration of our commitment at Newcastle to offer market-leading products to customers."
