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.
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.
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.
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
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