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Newcastle BS boosts new build range

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Written by:
22/06/2015
Newcastle Building Society has added four products to its range of new build mortgage products.

The mutual will offer four products for borrowers who wish to purchase new homes, with deals available up to 90% loan-to-value.

The two products available to borrowers with a 10% deposit are a two-year is fixed at 3.89% and the five-year at 4.10%.

At 85% loan-to-value a two-year fix at 3.04% and a five-year fix at 3.55% are both available.

All four products are fee-free and Steve Urwin, managing director of sales and marketing at Newcastle Building Society, said this would allow more buyers to purchase a new build property.

“The society has supported first time buyers for a number of years through our mortgage products with LTVs up to 95%,” he said.

“The launch of specific products for the new build market help will continue to support first time buyers and next time buyers in a market that has and is expected to expand in the next couple of years.

“The products have been designed with a range of fixed rate terms to offer flexibility, as well as fees free and cash-back options to help keep upfront cost low for first time buyers.”

New Newcastle Building Society new build range:

 

3.04% fixed rate fixed until 30.09.2017 followed by standard variable rate for the remainder of the term

£300 cashback (payable on completion)

Max LTV 85%

 

3.55% fixed rate fixed until 30.09.2020

£300 cashback (payable on completion)

Max LTV 85%

 

3.89% fixed rate fixed until 30.09.2017

£300 cashback (payable on completion)

Max LTV 90%

 

4.10% fixed rate fixed until 30.09.2020

£300 cashback (payable on completion)

Max LTV 90%

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