Newcastle Building Society launches new mortgage range

Newcastle Building Society has announced the launch of four fixed rate and one discount rate mortgages.

This product range includes three fixed rate mortgages at ‘best buy’ rates - 5.45% fixed for two years, 5.35% fixed for five years and a ten year fixed at 5.55%.

Key product features

Two year fixed:

5.45% until 31.01.10 for up to 90% LTV
Completion fee £599

Three year fixed:

5.65% until 31.01.11 for up to 90% LTV
Completion fee £999

Five year fixed:

5.35% until 31.01.13 for up to 90% LTV
Completion fee £999

Ten year fixed:

5.55% until 31.01.18 for up to 90% LTV
Completion fee £999

Two year discount:

0.16% below BoE base rate (currently 5.59%) until 31.01.10 for up to 90% LTV
Completion fee £699

Steve Urwin, AGM Marketing and New Media at Newcastle Building Society, commented: “We are delighted to be launching a range of highly competitive mortgage products. Our five year fixed rate in particular offers great value for those who would like security for the medium term. The direction of the Bank of England base rate remains in the balance. This product range therefore offers borrowers the peace of mind that they are fixing their mortgage at a competitive rate and securing themselves against market turbulence.”