Competitive five year fixed rate mortgage product unveiled

Newcastle Building Society (NBS) has expanded its mortgage range and launched a new five year fixed rate mortgage deal that is poised to be one of the best in the marketplace.

The new deal, available now, is at a fixed rate of 4.99% (5.9% APR) for five years available up to 80% loan-to-value for prospective buyers and re-mortgage customers alike.
The Newcastle expects the product will prove popular with borrowers who want the security of a fixed rate, which eliminates the risk of increasing payments in an anticipated rising rate environment.

Sales and Marketing Executive for NBS, Steve Urwin, said: “We understand that some borrowers want certainty with their mortgage payments.

“Securing a rate in the medium term provides peace of mind knowing that your monthly payments won’t change, which is an important factor to consider especially against an uncertain economic backdrop.

"As well as this product, we have recently launched a range of two year fixed rate products offering either ‘fees free’ or ‘no early repayment charge’, so we believe we are catering for a range of borrowing needs.”

Product Information:

4.99% (5.9% APR) Fixed Rate until 30th June 2016
£499 Completion Fee
£195 Reservation Fee
Max LTV 80%
5, 4, 3, 2, 1% early repayment charge until 30th June 2016