The Newcastle unveil new mortgage range

Jessica Nangle

December 18, 2019

Newcastle Building Society has unveiled a new mortgage range exclusively for its cash Lifetime ISA (LISA) first-time buyer customers.

The society has introduced four exclusive LISA customer mortgages available at 90% or 95% LTV.

A 2-year fix at 2.69% is available at 90% LTV, or a 2-year fix at 2.89% at 95% LTV with an early repayment charge of 2% until April 2021 and 1% until April 2022.

Alternatively there is a 5-year fix at 3.05% at 95% LTV is available, or a 5-year fix at 2.85% at 90% LTV is also available.

Both come with an early repayment charge of 5% until April 2021, lowering a percent each year until reaching 1% in 2025.

All products come with free standard valuation, £500 cashback, and 10% overpayments per annum.

Customers can transfer their LISA from another provider and still qualify.

John Truswell, head of intermediary mortgages at Newcastle Building Society, said: “Following the launch of our Lifetime ISA in 2018, we’ve been looking at a variety of ways to help those saving for their first home onto the property ladder.

“With more preferable rates to standard mortgages, we’re excited to introduce this competitive range exclusive to our Lifetime ISA customers.

“It doesn’t matter how long customers have had their Lifetime ISA with Newcastle Building Society, provided they’ve saved for at least one year to access their Lifetime ISA penalty free, they’re able to apply for these mortgages.”

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