The two and 5-year fixed rates can be used to support customers purchasing a home or remortgaging for a cheaper deal.
A 2-year fixed rate at 1.89% (5.1% APRC) is available at a max LTV of 80%. An early repayment charge of 2% applies until 31.01.2022 and 1% until 31.01.2023.
Alternatively, for borrowers wanting to fix for longer, a 5-year fixed rate at 2.29% (4.6% APRC) is also available at a max LTV of 80%. An early repayment charge of 5% applies until 31.01.2022, 4% until 31.01.2023, 3% until 31.01.2024, 2% until 31.01.2025 and 1% until 31.01.2026.
Both mortgages come with product fees of £999 to pay, and offer 10% overpayments per annum to support customers who require the flexibility to make lump sum capital payments.
John Truswell (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re pleased to be introducing a further two competitive 80% mortgages to our current offering to increase product options for brokers and their clients.”