Newcastle Intermediaries launches Best Buy 95% LTV mortgage

06 August 2019

Newcastle Intermediaries are launching a best buy 95% LTV mortgage at 2.90% and refreshing end dates on its existing competitive 95% LTV mortgages.

The newly launched best buy five year fixed is now available at 2.90% (4.8%APR) comes with fees of £498 to pay, 10% overpayments per annum and an early repayment charge of 5% until 31st October 2020, 4% until 31st October 2021, 3% until 31st October 2022, 2% until 31st October 2023 and 1% until 31st October 2024.

Alternatively, a two year fixed rate is available at 2.59% (5.2%APR) comes with fees of £498 to pay, 10% overpayments per annum and an early repayment charge of 2% until 31st October 2020 and 1% until 31st October 2021.

All 95% LTV products are available for House Purchase and Re-mortgage.

Stuart Miller, customer director at Newcastle Building Society, said: “Supporting people own their own home is key to our purpose, so we’re pleased to see that the first time buyer market remains very active. The launch of this best buy 5 year product along with the refresh of our already competitive range will give borrowers choice on how long they fix their rate. We adopt a flexible and common sense approach to underwriting adding further value to our first time buyer proposition.”

Moneyfacts group has given this product an outstanding rating and have, said: “This new deal from Newcastle Building Society becomes the lowest in its sector and may well attract borrowers who have the required 5% deposit. During a period of economic uncertainty, it’s great to support for borrowers who are hoping to lock into a competitive rate on a longer-term deal but only have a small deposit to put down upfront. As with any deal, borrowers would be wise to weigh up the overall true cost before they apply.”

All product details and the full range of available products can be found at www.newcastleis.co.uk.