Newcastle Building Society

The Newcastle Building Society is situated in the northeast of the UK. It was established in 1980 following a merger between the Grainger that was first formed in 1861 and Newcastle Permanent Building Societies which was first formed in 1863. It was in 2006 that the society united with the Universal Building Society that was a society also based in Newcastle. In 2008 another office was opened by the Newcastle Building Society at Cobalt Business Park in North Tyneside.

The Newcastle Building Society has a variety of mortgages on offer that range from fixed rate mortgages to tracker mortgages and the rates of interest are very competitive catering to all types of customers and their needs.

Below are examples of a few of the online mortgages and their rates offered by the Newcastle Building Society.

A 5 year Fixed Rate (80% LVT)

  • Fixed payments for a five year period  (term ending on 31 January 2017)
  • Initial rate of 3.99%
  • 80% Maximum Loan to Value (LVT) inclusive of any fees to be added to the loan
  • Loan amount  – £10,000- £500,000 with maximum loan amount restricted to £350,000 where loan exceeds 75% LTV
  • The minimum value or purchase price of property is £40,000
  • Reservation fee of £195
  • Completion fee is £495
  • There is a  bank transfer fee of £30
  • There is no higher lending charge
  • Early repayment charge 5,4,3,2,1% of sum repaid prior to 31st January 2017
  • The rate changes to their SVR (standard Variable Rate) when the five year term ends which currently is 5.99%

A 2 year Discount Rate Mortgage (80% LVT)

  • Fixed payments for a two year period  (term ending on 31 January 2014)
  • Initial rate of 4.19%
  • 80% Maximum Loan to Value (LVT) inclusive of any fees to be added to the loan
  • The minimum value or purchase price of property is £40,000
  • Loan amount  – £10,000- £500,000 with maximum loan amount restricted to £350,000 where loan exceeds 75% LTV
  • Reservation fee of £195
  • Completion fee is £599
  • There is a  bank transfer fee of £30
  • There is no higher lending charge
  • Early repayment charge 3% of sum repaid prior to 31st January 2014
  • The rate changes to their SVR (standard Variable Rate) when the five year term ends which currently is 5.99%