Newcastle Intermediaries has introduced a new range of 80% five-year fixed rate mortgage products to its portfolio.
A five-year fixed rate at 4.55% (4.9% APRC) up to 80% LTV comes with early repayment charges of 5% until 31/03/24, 4% 31/03/25, 3% until 31/03/26, 2% until 31/03/27 and 1% until 31/03/28. The product comes with a £999 fee and offers the flexibility of 10% overpayments per annum.
Also included in the range is a five-year fixed rate at 4.70 (4.9% APRC) up to 80% LTV that comes with early repayment charges of 5% until 31/03/24, 4% 31/03/25, 3% until 31/03/26, 2% until 31/03/27 and 1% until 31/03/28. The product comes with no fees and offers the flexibility of 10% overpayments per annum.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “Our latest range of highly competitive five-year fixed rate products offer attractive options for customers looking for payment certainty, and come at a time in the year when many will be looking to review their finances.
“Our decision to introduce these new 80% LTV products demonstrates that, as the market evolves in 2023, we will continue to provide a range of solutions to address the challenges brokers face as consumers look to remortgage or purchase a property in the coming months.”
Jon Stones, managing director at Mortgage 1st, added: “Although it feels as though much of the turbulence in the mortgage market has passed, pricing has been significantly impacted, and during this challenging period we’ve seen heightened demand for rate certainty over a longer timeframe.
“ Therefore we welcome this competitive range of five-year products from Newcastle Intermediaries which enable brokers like ourselves to provide clients with both greater choice and flexibility in longer-term options.”
