Available directly through Newcastle branches and contact centre from 11 September, the mortgage, priced at 5.49 per cent, offers a minimum loan of £15,000 and a maximum loan of £250,000 and is available to 90 per cent loan-to-value.
The product has a £499 completion fee and early repayment charges range from 6 per cent to 1 per cent; depending on how close the mortgage is to the end of the term.
Steve Urwin, AGM marketing and new media at Newcastle Building Society, commented: “This 20-year fixed rate mortgage is the longest fixed rate product Newcastle offers its customers. It is ideal for people who want to fix their mortgage repayments for a substantial period with the additional piece of mind that they will not be affected by any further changes to the Bank of England base rate.”
Meanwhile, Newcastle has also made four appointments to its executive team.
Chris Jopling has become human resources (HR) executive, Bob Mottershead takes up the position of retail sales executive, Ian Kilmartin is third party services executive and Phil Grand is appointed to customer service executive.
All four take up their positions with immediate effect.
Chris Jopling has been with the Newcastle for almost 30 years, and has considerable experience in HR, project management and managing operational risk. As the executive responsible for HR he will now oversee a period or strong recruitment. There are currently around 840 staff working at the Newcastle, but this is expected to pass 1,000 by the end of next year.
Bob Mottershead joined the Newcastle in January 2006. He has worked in the financial services industry for more than 34 years and has held senior positions in organisations such as Zurich Life and West Bromwich Building Society.
Ian Kilmartin joined the Society in 1992, and has worked in various roles, including business systems, project management and corporate planning. In 2001 he moved into the Society’s fledgling business-to-business arm, Newcastle Strategic Solutions Limited, as operations director and is well positioned to head the Society’s third party services operation.
Phil Grand has been with the Society for more than 19 years and has valuable experience at all levels, both in the branch network and at head office. In his role, Phil will be responsible for mortgage and investment processing and administration for the Society. In addition, he will be responsible for investment processing and administration for the third party services part of our business as well as being involved with a number of key projects within the Society.
Colin Seccombe, chief executive of Newcastle Building Society, said: “Last year we undertook a major strategic review across our operations to ensure the Society continues to move forward in what is an extremely competitive and fast-changing market. Strengthening our executive team with these appointments is really the next stage of this programme, as we look to implement the changes. I am confident the calibre, vision and experience we now have in place for these hugely important and high level positions will help guarantee our success.
“This is a period of rapid expansion for the Newcastle, and I’m sure it will be an exciting time for our executives.”
