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New fee free offset mortgage from Newcastle
19 December 2005 11:46
Newcastle Building Society has launched a new fee free offset product at a rate of 0.5 per cent above the Bank of England base rate for the lifetime of the loan.
The mortgage offers no completion fees or early repayment charges, and comes with free legal fees and a free valuation up to £410.
Customers are also entitled to take out as many savings accounts as they wish to offset the value of the loan.
Steve Urwin of Newcastle Building Society announced that the mortgage came with a great range of incentives, ultimately making the Newcastle product range more competitive.
He emphasised that it is perfect for customers looking for a guaranteed competitive tracker rate set for the duration of the mortgage.
The maximum loan-to-value for the new mortgage is 85 per cent.
It also includes a 'family feature', which allows family members' savings to be used to offset the value of the loan.
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