Newcastle Building Society has launched a five-year fixed rate mortgage for borrowers looking to secure a great deal for the medium term.
Available with a minimum loan-to-value (LTV) of 80 per cent, the product is fixed at 3.99 per cent until 31 December 2017.
According to Newcastle Building Society, it will be popular with those that require the security of payment associated with a fixed rate in an uncertain interest rate environment.
Steve Urwin, sales and marketing executive, said: “Five year fixed rates are a good option for those borrowers that prefer to adopt a safety first approach to their mortgage.
“Many people like to know what their payments will be every month and that their rate won’t increase over a certain period.
“Perhaps, like many, they don’t have the flexibility in their monthly household budget so a product such as this is important to have in our range so we can try to help them where possible.”
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