Newcastle introduces new mortgages

A new range of fixed-rate mortgages exclusive to intermediaries has been introduced by Newcastle Building Society.

The high street lender claims the two new fixed-rate deals show it is committed to the intermediary market.

Both of the new products are two-year deals lasting until November 2010.

The first mortgage has a rate of 5.85 per cent and comes with a reservation fee of £99 and a completion fee of £999.

Newcastle''s second deal has the same duration, a rate of 6.25 per cent and comes with a free valuation, free legal fees and no completion or reservation costs.

Steven Marks, lending and operations executive at Newcastle Building Society, said: "Exclusively for intermediaries, we are pleased to offer two new competitive fixed-rate products, which offer a choice of rates and fees."

In related news, director of the Association of Mortgage Intermediaries Robert Sinclair has welcomed the Bank of England''s base rate reduction.

back