Three-year stepped discount product
Newcastle’s three-year stepped discount product offers an annual sequential discount from 3 per cent to 1 per cent on Newcastle’s current Standard Variable Rate (SVR) rate until 31 January 2010.
The product offers a minimum loan of £15,000 and a maximum loan of £500,000 and is available to 90 per cent loan-to-value (LTV).
Two-year fixed
Newcastle’s two-year fixed product with extended tie in offers a fixed rate of 1.80 per cent until 31 January 2009, thereafter converting to the SVR with tie ins until 2013.
The mortgage offers a minimum loan of £15,000 and a maximum loan of £500,000 and is available to 90 per cent LTV.
Available from all Newcastle branches and the Newcastle Contact Centre, both products are fully portable.
Steve Urwin, senior executive marketing and new media at Newcastle Building Society, commented: “These two products increase the diversity of Newcastle’s mortgage range and offer customers the opportunity to choose the mortgage product that best suits them.
“The stepped discount product offers a convenient low introductory rate to help keep mortgage payments down in the early years, and does not include any extended tie in. The best buy two-year fixed offers a similar break from higher rates, hopefully leaving more to spend on other costs such as home improvements, furnishings or decorating – benefits which can be particularly useful for those starting a family.
“With these additions to an already competitive mortgage range we hope that customers will be able choose a mortgage product that suits their financial situation and that they feel they can comfortably repay.”
