The Mortgage Loans Help

Newcastle Building Society has added a new product to its mortgage range, expanding out to intermediaries with several new fixed rate remortgage deals. The products will be immediately available, and will include a two-year fix at 3.99%, available up to 80% LTV with the option of free fees – and there will be no charges for early repayment.

The building society is also launching a two-year fix deal at 4.19% available up to 80% Loan To Value, with no completion and exempt from reservation fees, it also comes with a free standard valuation. Also available with this deal are the option of either free legal fees for remortgages on properties located in England or Wales, or alternatively clients can request £300 cash back to be used for remortgages taken out for properties in Northern Ireland and Scotland.

Other deals included are a five year fixed rate mortgage specifically for first time buyers to purchase houses, and remortgage deals at 4.99% available with up to 80% LTV, which does carry other fees with it – a completion fee of £499 and a reservation fee of £195.

Intermediary services manager at Newcastle Building Society, Steven Marks, says that they have launched a new range of mortgage deals with fixed rate deals because there is still a high demand for the products, from borrowers who are looking for reassurance and certainty with their mortgage arrangements. However, he also points out that there are other customers who are concerned with having some flexibility.

Mr Marks also added; ‘Our new five-year fixed rate can give customers a fixed rate and the two years offer a good rate, with a little bit of extra freedom with the fees free and no ERC options.’ All the company’s new policies are available on a ‘semi-exclusive’ basis through Legal & General, First Complete, Positive Solutions, Brilliant Solutions, Openwork and Intrinsic.

Newcastle Building Society describes itself as ‘one of the leading and strongest mutual building societies in the UK with in excess of £4.5billion’ they currently invest their profits into the business and pay out dividends to several shareholders. The building society dates back to 1861, and is a result of the merging of Grainger and Newcastle Permanent Building Societies back in 1980.