Newcastle launches new two year fixed rate mortgage

Newcastle Building Society has added to its mortgage range with the launch of a new two-year fixed-rate mortgage at a market-leading rate of 5.22% until 30th April 2009.

The product offers 95% Loan to Value (LTV) and is not subject to any higher lending charges up to 90% LTV.

Key Product Details:

5.22% fixed until 30 April 2009
95% LTV
£475 completion fee
No Higher Lending Charge up to 90%
Early Repayment Charge: 3% of outstanding balance to 31 April 2009

Steven Marks, Lending and Operations Executive at Newcastle Building Society commented: “Given the recent base rate rises over the previous months we are very pleased to be expanding our product range and offering our customers a leading fixed rate mortgage deal.

“This product is an attractive option for customers, offering buyers the opportunity to fix their repayments for two years with the certainty that there will be no change; regardless of Bank of England decisions.”