Newcastle Intermediaries launches ten-year interest only fixed rate

The 10-year interest only fixed rate is available at 3.55% up to 80% LTV on house purchases and remortgages up to £1million. The product comes with a £999 completion fee and the flexibility of 10% overpayments per annum.

Franco Di Pietro, head of intermediary mortgages at Newcastle Building Society, said: “We’re committed to ensuring our mortgage products reflect the complete range of borrowers’ requirements, no matter what stage of homeownership they may be at. That’s why we’ve launched our 10-year interest only fixed rate, which complements our existing range to provide longer-term payment security and greater choice.

“Our 10-year interest only fixed rate has already received a positive reception in the market, and as we continue to keep a close eye on emerging trends we look forward to developing the best possible solutions for brokers and their clients.”