Newcastle launches five-year fix
The latest deal from Newcastle offers a 5-year fixed rate of 4.35% until 31st May 2008, ideal for borrowers who are looking for the certainty of low rates for years to come.
Robert Hollinshead, the chief executive of Newcastle Building Society, said: “In the current economic environment, many people want the security of knowing that their mortgage payments will remain the same over a long period, regardless of what the bank base rate does. This 5-year fixed product is the most competitive on the market today and is a further demonstration of our commitment at Newcastle to offer excellent products to our customers.”
Last month the Newcastle launched their first Offset Mortgage – a base rate tracker product with a rate of 0.5% over base for the term of the mortgage (with initial discounted rate for 6 months of 3.9% (0.1% below base).