Newcastle launches leading 20% deposit 1.65% fixed rate mortgage
Newcastle Building Society has launched an impressively low two-year fixed rate mortgage designed to attract homebuyers with a smaller deposit.
The rate is fixed at 1.65% until 31 July 2017 and available to borrowers purchasing a property with a 20% deposit. The overall cost for comparison is 5.4% APR.
After the fixed rate period the mortgage will revert to Newcastle’s standard variable rate, currently 5.99%.
This mortgage has a £1,299 arrangement fee and the maximum loan size is capped at £1,000,000. Please note, the fee increases to 0.3% of the advance for mortgages over £500,000.
Aaron Strutt, product manager at Trinity Financial, says: “Home buyers planning to get on the property ladder don’t need to have a huge deposit to qualify for a great mortgage. The lenders are still fighting hard to improve their proposition and make their rates more attractive.”
If you would like help to secure a low deposit mortgage, call Trinity on 020 7016 0790.
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
