Newcastle Intermediaries launches ten-year interest only fixed rate
Newcastle Intermediaries has launched a 10-year interest only mortgage product to increase long-term borrowing options.
"We’ve launched our 10-year interest only fixed rate, which complements our existing range to provide longer-term payment security and greater choice."
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.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
State Pension
Budget: Government signals income tax write off for state pensions exceeding personal allowance
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
State Pension
Budget: Government signals income tax write off for state pensions exceeding personal allowance
FCA
FCA announces new measures to support growth of mutuals sector
Nationwide
FCA fines Nationwide £44m for inadequate financial crime controls
