You are here: Home - First Time Buyers - News -

Newcastle lowers the cost of 95% deal

Written by:
Newcastle BS has joined the trend for cutting the rate on higher loan-to-value mortgages.
Newcastle lowers the cost of 95% deal

The building society has pared the interest rate charged on its 95% loan-to-value (LTV) two-year fixed rate from 5.95% to 5.59% and dropped the Early Repayment Charge.

There is no completion fee, but applicants have to pay a £195 reservation fee for the product.

Steven Marks, corporate development executive for Newcastle BS, said:

“This reduction in the rate of our 95% LTV product demonstrates how Newcastle BS is committed to supporting borrowers as it provides an opportunity for those with a smaller deposit to access a competitive mortgage product.

“Additionally, the no ERC feature gives more flexibility to a person if their circumstances change.”

Newcastle’s rate cut follows similar changes at other smaller lenders. Last week Cambridge BS launched a stepped 95% deal for first-time buyers while Saffron BS has also refreshed its high LTV range.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
35% rise in first-time buyers

The number of buyers entering the market for the first time has soared in the last 12 months.