Newcastle Intermediaries has brought out a new 10-year mortgage.

Available at up to 80% LTV, the product is fixed at 3.55% and charges a £999 completion fee.

It can be used for purchase and remortgage at up to £1m, and features 10% overpayments per annum.

Newcastle head of intermediary mortgages Franco De Pietro says: “We’re committed to ensuring our mortgage products reflect the complete range of borrowers’ requirements, no matter what stage of homeownership they may be at.

“That’s why we’ve launched our 10-year interest only fixed rate, which complements our existing range to provide longer-term payment security and greater choice.”

Yesterday, 13 June, Newcastle Intermediaries announced an expansion of its range of joint mortgage sole proprietor products.