Newcastle Building Society has unveiled a competitive five-year fixed rate mortgage, which has moved straight into the Moneyfacts charts.
This mortgage has a rate of 2.99% fixed until 30.4.20, earning it a leading position in the charts for its sector. It is available at a loan-to-value (LTV) of 80% and has no fee payable for those borrowing £500,000 or less (a fee of 0.30% of the advance is charged for borrowing above this level).
This deal is open to first-time buyers, homemovers and remortgagors with a 20% deposit. Although there is no incentive package with this mortgage, all borrowers can benefit from the option to make regular or lump sum overpayments.
This new deal is sure to pique interest among borrowers with its competitive rate and the absence of a fee for mortgages below £500,000. The option of overpayments further enhances its appeal and ensures it a comfortable place among the best buys.
Moneyfacts rating: Excellent
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