Newcastle Intermediaries has introduced a new range of 80% five-year fixed rate mortgage products to its portfolio.

The lender’s new offering includes a five-year fixed rate at 4.55% (4.9% APRC) up to 80% LTV. This comes with a £999 fee and offers 10% overpayments per annum.

Also included in the range is a five-year fixed rate at 4.70% (4.9% APRC) up to 80% LTV, which comes with no fees and also offers 10% overpayments per annum.

Both these products come with early repayment charges of 5% until 31 March 2024, 4% until 31 March 2025, 3% until 31 March 2026, 2% until 31 March 2027 and 1% until 31 March 2028.

Head of intermediary mortgages at Newcastle Building Society, Franco Di Pietro, said this latest range of fixed rate products would offer “attractive options” for customers looking for payment certainty, and come at a time when many will be looking to review their finances.

“Our decision to introduce these new 80% LTV products demonstrates that, as the market evolves in 2023, we will continue to provide a range of solutions to address the challenges brokers face as consumers look to remortgage or purchase a property in the coming months,” Di Pietro said.

Managing director at Mortgage 1st, Jon Stones, added: “Although it feels as though much of the turbulence in the mortgage market has passed, pricing has been significantly impacted, and during this challenging period we’ve seen heightened demand for rate certainty over a longer timeframe.

“Therefore we welcome this competitive range of five-year products from Newcastle Intermediaries which enable brokers like ourselves to provide clients with both greater choice and flexibility in longer-term options.”

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