It includes a two-year fixed rate at 6.44 per cent up to 95 per cent LTV with no product fee, free standard valuation and £200 cashback.
There is also a two-year fixed rate at 5.99 per cent with a £999 fee.
Both are available for purchase and remortgage, with 10 per cent overpayments permitted and early repayment charges of two per cent in the first year then one per cent in the second year.
Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society said: “We’re always listening to broker feedback and looking for ways to increase support for clients.
“That’s why we’ve reintroduced a competitive range of two-year products to meet the needs of first-time buyers and low deposit borrowers looking for a shorter-term deal.”
Newbury Building Society reprices three-year fixed rates
Newbury Building Society has lowered pricing for standard residential three-year fixed rates for new and existing borrowers.
Its three-year fixed rate standard product at 75 per cent LTV has dropped from 5.79 per cent to 5.59 per cent.
Its existing borrower three-year fixed standard residential product has decreased from 5.69 per cent to 5.49 per cent and its standard residential five-year fixed rate has fallen from 5.69 per cent to 5.39 per cent.
Roger Knight, lending manager at Newbury Building Society, commented: “Much of the news this year has been focused on rising prices, so we’re pleased to buck the trend with these price reductions.
“The stabilisation of the financial market and swap rates have allowed us to reduce pricing by up to 0.3 per cent across three of our fixed rate mortgage products.”
He added: “We know fixed rate mortgages are popular both with customers looking for certainty when they remortgage, as well as first-time buyers who are less experienced and want to know how much they will pay over a certain period.
“We’re pleased to be able to offer this peace of mind to our new and existing borrowers.”
