Newcastle Intermediaries is now offering a 10-year fixed rate mortgage product.

It can be used for purchase or remortgage and comes at up to 80% LTV and is set at 2.99%. It also charges a £999 fee.

The maximum loan size is £1m and it allows for annual 10% overpayments, with the early repayment charge standing at 5% until 2028 and decreased by 1% per year sequentially thereafter.

Head of intermediary mortgages Franco Di Pietro says: “We’re always ready to respond to changing market trends in order to meet the diverse requirements of our brokers and their clients.

“In the current rate environment and with the rising cost of living, our 10-year fixed rate offers brokers and their clients an option for those who may want or need to plan ahead and value the payment stability and peace of mind that an extended fixed rate provides.”