Newcastle has launched a range of fixed-rate mortgages for the 80 per cent loan to value marketplace, including first-time buyers and home movers.
A two-year fix is on offer at 2.05 per cent until 31 August 2019, with no reservation or completion fees, a free standard valuation and £200 cashback.
Alternatively, borrowers can opt for a three-year deal at 1.85 per cent until 31 August 2020, with fees of £999.
For those in need of greater certainty, the lender is offering a ten-year fix at 3.29 per cent, with no reservation or completion fees, a free standard valuation and £200 cashback.
Newcastle has also increased the level of overpayments allowed without penalty across its residential range to 10 per cent of a borrower’s mortgage balance per annum.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We’re pleased to be able to support borrowers with a 20 per cent deposit with such a strong and competitive range of products.
“In the current climate, we feel it’s important to offer a suite of fixed terms to cater for a range of different needs and hope that these products can help brokers find the right choice for their customers.”
Tom Oliver, IFA at Newcastle-based Lamb and Associates, said the ten-year fix was a “really good product”.
“That sounds like a good deal for a client looking for a long-term home,” he added. “It gets them over the worries of Brexit and future interest rate rises.
“The 1.85 per cent three-year fix at 80 per cent sounds like a good deal from my point of view.”
simon.allin@ft.com
