New fixed rate mortgage for small deposit holders | Product News - Moneyfacts

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New fixed rate mortgage for small deposit holders

New fixed rate mortgage for small deposit holders

Category: Mortgages
Date: 11/11/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Newcastle Building Society has launched a new two-year fixed rate mortgage onto the market, earning it a place in the Moneyfacts charts thanks to its eye-catching rate and terms.

The basics…

This mortgage has a competitive rate of 4.20% fixed until 31.1.18. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.

The finer details…

This deal is available to all borrowers with a modest deposit of 5%. It comes with a generous incentive package of a £300 rebate for house purchase customers and remortgagors in Scotland, while remortgagors in England & Wales will receive free valuation and legal fees.

Borrowers will also have the opportunity to make regular and lump sum overpayments, giving them the potential to reduce their mortgage balance.

Why we like it…

Borrowers in possession of only a 5% deposit are likely to welcome this new deal, which not only offers a competitive rate but also comes accompanied by a highly enticing incentive package. The fact that it also has no products fees also adds to its cost-effectiveness, securing its place in the charts.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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