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10 June 2022

Newcastle Intermediaries has introduced a seven-year fixed rate mortgage to its product portfolio in response to demand from borrowers looking for the security of a longer-term product.

The seven-year fixed rate at 3.26% (3.6% APRC) comes with early repayment charges of 5% until 31.08.2025, 4% 31.08.2026, 3% until 31.08.2027, 2% until 31.08.2028 and 1% until 31.08.2029.

The 80% LTV product is available on house purchases and remortgages up to £1million, and offers the flexibility of 10% overpayments per annum, £500 cashback and a free standard valuation.

Mark Wilkinson, national sales manager at Newcastle Building Society said: “As the market evolves we are committed to providing a range of solutions that address the challenges brokers face as consumers look to remortgage or purchase a property in the coming months.

“We are acutely aware of concerns borrowers have due to the increasing cost of living. Against a backdrop of rising costs and energy bills, our seven-year fixed rate mortgage product offers borrowers peace of mind by delivering payment certainty, as well as protection against rising interest rates.”

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