Newcastle introduces five products

The new range of four fixed rate products and one discount rate includes three fixed rate mortgages at ‘best buy’ rates of 5.45 per cent fixed for two years, 5.35 per cent fixed for five years and a ten year fixed at 5.55 per cent.

Key product features are as follows:

Two year fixed

• 5.45% until 31.01.10 for up to 90% LTV
• Completion fee £599

Three year fixed

• 5.65% until 31.01.11 for up to 90% LTV
• Completion fee £999

Five year fixed

• 5.35% until 31.01.13 for up to 90% LTV
• Completion fee £999

Ten year fixed

• 5.55% until 31.01.18 for up to 90% LTV
• Completion fee £999

Two year discount

• 0.16% below BoE base rate (currently 5.59%) until 31.01.10 for up to 90% LTV
• Completion fee £699

Steve Urwin, AGM marketing and new media at Newcastle Building Society, commented: “We are delighted to be launching a range of highly competitive mortgage products. Our five year fixed rate in particular offers great value for those who would like security for the medium term as the direction of the Bank of England base rate remains in the balance. This product range therefore offers borrowers the peace of mind that they are fixing their mortgage at a competitive rate and securing themselves against market turbulence.”