Newbury Building Society reduces fixed rate mortgage product

Newbury Building Society has reduced the rate of its mortgage product for customers looking to purchase a new property using the Help to Buy Equity Loan scheme.

The mortgage, fixed at 1.74% until 27 January 2021, can be used in conjunction with the government’s Help to Buy scheme, which has been designed to lessen the financial burden for those who wish to purchase on the open market.

The fixed rate will provide stability for buyers looking for fixed monthly repayments over a set time.

Newbury Building Society operations and sales director Phillippa Cardno said: “We are committed to helping first-time buyers and those looking to get a foot onto the property ladder by offering mortgage products in line with a range of Government schemes.

"We’re delighted to be able to offer the 1.74% fixed rate to customers who want to take advantage of the Help to Buy scheme.”

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