Newcastle BS launches fixed rate range
This rate is only available for those looking to borrow up to 80% loan-to-value.
A fee-free two-year mortgage is on offer at 2.29%, also for those with a 20% deposit. Both products have no early repayment charges.
Newcastle Building Society is also to offer a three-year fix at 2.15% and a five-year fix at 2.65%. These two products are also available up to 80% loan-to-value.
Steve Urwin, managing director sales and marketing executive at Newcastle Building Society, said more borrowers were looking to fix rates to give themselves financial stability.
“The launch of these products follows a trend in the popularity of fixed rates,” he said.
“We appreciate some borrowers are keen to fix for the short-term and wait for the outcome of a Bank of England base rate rise, whereas others would prefer more long-term certainty in preparation for a rise. This is why we’ve launched a suite of 80% LTV fixed rate products that will cater for a range of different needs.”