Newcastle has added a seven-year fixed rate to its product range in response to increased borrower demand for longer-term financial security.
The product is priced at 3.26 per cent and comes with early repayment charges (ERC) for the first five years for the fixed term.
The ERC starts at five per cent and then falls by one per cent per year.
It is available at 80 per cent loan to value (LTV) and is eligible for house purchase and remortgage up to £1m.
The product also allows flexible overpayments of 10 per cent per year, £500 cashback, and free standard valuation.
Mark Wilkinson (pictured), 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.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
