Newcastle launches new fixes

Newcastle Building Society launched its two new products following the popularity of its previous fixed rate products.

The five year fixed products are available at 4.35% with a maximum LTV of 75%, or 4.99% for LTVs up to 80%.

Free standard valuation (on properties up to £500k) is available on both deals, in addition to free legal fees (remortgages in England and Wales) or £300 cashback (for house purchases or remortgages in Scotland).

These products are available on a semi-exclusive arrangement through Legal & General, Openwork, Your Move, Intrinsic, Positive Solutions and Brilliant Solutions.

Following an increased appetite in the UK for fixed rate deals the society introduced two longer-term products in a bid to support this market further, as Steve Marks, Intermediary Services Executive, said: “There is a lot of talk about whether the Bank of England Base Rate will increase, while at the same time we seem to hear about how more people are searching for consistency and security when deciding about their mortgage product.

“This was one of the reasons why we decided to develop two new fixed rate deals, at lower rates than we have had recently for similar products through this market.

“We are very passionate about supporting the intermediary marketplace and I think by regularly introducing attractive products, such as the two we have mentioned, we are showing the importance this market is to us and our potential customers.”

The Society has also introduced a 4.10% two year fixed rate with a max LTV of 80% for those who require a shorter deal. This product also includes a free standard valuation (on properties up to £500k).