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Newcastle BS offers brokers five and 10-year mortgages

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  • 15/04/2015
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Newcastle BS offers brokers five and 10-year mortgages
Newcastle Building Society has launched five and 10-year fixed rate mortgage products for intermediaries with a maximum loan-to-value (LTV) of 80%.

Its five-year product is on offer at a rate of 2.89% with a £199 reservation fee and no completion fee, while its 10-year product comes at a rate of 3.85% and is fee free.

Both products are available with a minimum loan size of £10,000 and up to £1m.

The products are available through the lender’s key accounts which cover Legal & General, Openwork, Pink, First Complete, Intrinsic, Positive Solutions and Brilliant Solutions, Sesame, PMS and TMA.

Steven Marks, corporate development executive (pictured), said: “Our products are competitive given the low or fee free status. We’ve found that fixed rate products are still very popular with borrowers that prefer to have the comfort in knowing their mortgage payments won’t change.

“What is also great is that the 10-year product only comes with early repayment charges within the first five years, meaning after this time brokers’ clients have the flexibility to port their mortgage should they decide to move home.”

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